Rent out your HOA Home, Go to Jail
So you thought your HOA home was such a sweet investment. After all, if you had to move to a smaller home in this economy, you could always rent out the HOA home to help pay the mortgage couldn’t you, Bunky?
After all, that’s an age-old way of diversifying an invesment and keeping its value high during a recession.
But many HOAs are deciding that HOA rentals are cheapening the neighborhood so they’re arbitrarily passing rule that say, “You bought it, now live in it, damn it!”
William Ronald Webb was a major player in the federal investigation into massive corruption in the Valley’s HOAs. His plea comes just a day or so after the federal judge in the case told victims they probably wouldn’t see any restitution in the case. That’s the problem with ponzi schemes, the Bernie Madoffs made off with your money and leave everyone else in the pyramid high and dry.
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Imagine for a moment that your company has transferred you to California’s Central Valley. Lots of warm days are in your future, you get a chance to dry out from all the rain and snow in your old home town.
Your Realtor has been driving you around several neighborhoods in Angels Camp: Saddle Creek Resort, Copper Cove and the little community of Copperopolis. Suddenly you see it! The house of your dreams! The yard is nicely kept, the rooms are large, the last owner has really taken good care of the place. “What’s the neighborhood like?” you ask the Realtor.
As I’ve said before, once in a while you’ll find a lawyer who may actually be given a spot in Heaven. Is this another one?
Fraud in community associations. by: Bill Raphan September 13th, 2012 | 2:41 PM
Unfortunately, there is fraud being committed in community associations throughout the State of Florida every day.
I spent 5 years working with the Economic Crimes unit of the Florida Department of Law Enforcement in their Condominium Anti Fraud program.
The good news is that the majority of the complaints that were submitted turned out not to be fraud but were only mismanagement or misappropriation of funds.
I promise you, I absolutely promise you I have tried to avoid writing about this story. It first popped up about three years ago, and is so far outside the realm of common sense that I haven’t wanted to damage my own credibility by retelling it.
Still, more and more HOAs around the country are turning to DNA analysis to find out whose dog is pooping on whose lawn.
There’s nothing that drives an HOA board member nuttier than seeing someone else’s dog squat on an unapproved lawn. And technology has made it cheaper for an HOA to actually trace a dog dump.