In an Atlanta Homeowners Association (linked below) screaming and death threats are becoming a common experience. Homeowners are upset that the management company built a gate and is charging the homeowners $135,000. A hundred-and-thirty-five thousand bucks? For a frickin’ gate?
It’s long been my observation that the louder the screams at the HOA meeting, the higher chance there’s some embezzling or raw theft involved. If people are screaming, it’s time for a forensic audit…and a couple of pairs of handcuffs.
A high-rise residential tower in Baltimore is filing for bankruptcy after a homeowner won a lawsuit against the condo association. Instead of repairing his mold problems they fought him all the way through the court system. In the process, this idiotic condo board discovered the mold problems were real and now they’re having to do repairs on the entire high-rise. Their claimed losses are anywhere from ten million to fifty million dollars.
Anybody want to buy a ritzy Maryland apartment? Dirt cheap?
As many of you know, Arizona’s George Staropoli is one of the pioneers and heroes of our movement. I just wish I had his IQ and his intellect. In the essay linked below he performs surgery on the lie that HOA industry representatives constantly spread through our legislatures. Print it out and place it on the desks of each man and woman in government.
If you believe that, then you’re visiting the wrong shrink!
No, Your HOA absolutely does not protect your property values. Your HOA is there to keep track of your net worth. Your net worth (not just your home value) is pledged to a community pool which can be used whenever necessary to cover the cost of lawsuits, repairs, maintenance, insurance, embezzling board members.
All neighborhoods age, that’s just a fact of life. But developers get special breaks for cramming more homes into smaller spaces, and often those developers are just self-centered and financially motivated to cut corners. Meanwhile, building inspectors look the other way knowing it’ll be years before construction problems start becoming apparent.