It’s amazing how many homeowners don’t have a clue about the extent of organized corruption in the whole Homeowners Association industry.
Las Vegas? The feds convict 43 HOA ‘insiders’ for stealing 60 million dollars.
South Carolina? Well, this one is interesting. Up to five dozen Homeowners Associations have joined in a lawsuit against one of the state’s largest HOA management companies. Once again, endemic corruption. These homeowners have absolutely no idea how much has been stolen from them. The owner of the company admits she was stealing. Tears. Sobs. Regret that she got caught.
Slowly, but surely state legislators are hearing from bullied homeowners that the national HOA scam is ruining lives. And more news agencies are doing stories on out-of-control boards. The story linked below is from South Carolina which has a growing number of homeowner complaints.
Legislators tell themselves, “Of course, we can pass some laws.” Only problem is they can’t. The U.S. Constitution guarantees the ‘right to contract.’ And you certainly can sign a contract to give up your constitutional rights. That’s the rub. Florida’s Deborah Goonan has it right when she says at least we can license HOA management companies. That’s a good start. But it won’t end the nightmare of board members who feel entitled and empowered to throw their weight around.