Jill Schweitzer/HOA Savers LLC
The HOA industry is overrun with problems. You can’t change problems without first acknowledging the problems exist. But before that, it’s really more important that you understand what the problems are and how the problems affect you.
It is reasonable to assume that the HOA management company is licensed and regulated (they are not), that you have somewhere to go for help (you don’t). The HOA management companies that are often signers on your HOA bank accounts, are not licensed and regulated. There is no department to enforce that the managers and HOA boards follow the law. You can file a complaint for $500 at the Dept of Real Estate ($500 per issue, with a maximum of four complaints) or hire an attorney. The managers often times have their lobby group credentials/certifications, but that hasn’t solved the problems in the industry, nor is there an entity to fine, suspend or revoke a license.
Underfunded reserves is a problem in approximately 70% of HOAs. This is an issue many owners are not aware of until they are hit with a surprise special assessment. Take action now to discover the financial condition of your HOA. For more information on how read https://www.hoasavers.com/Doc.aspx?f=1872962&t=22pdfpdf and watch https://youtu.be/_m5sPb4OrCk
Many owners have been bullied and abused by speaking up and asking questions. Watch https://youtu.be/AsosJULE4a0
Children have been affected by HOAs. Watch https://youtu.be/MejAon-GsWY
Know this information before you buy. But it’s not too late, even if you already own in an HOA, read this HOA Industry Advisory https://www.hoasavers.com/briefcase/30242_5192016105559AM13699.pdf
Here is a survey based on laws that could be created to help protect owners and give you more rights. https://www.surveymonkey.com/r/SYW98FF
In the first two weeks, 552 people took the survey. Here are those results https://www.hoasavers.com/briefcase/30242_68201611722PM98356.pdf Included are comments from owners regarding problems they have experienced in their HOAs.
Many people say if you don’t like HOAs, don’t buy in one. Buyers don’t have a lot of choices. Many cities are over 90% HOA communities. And a buyer looking under 200k, that wants a home built in 2000 and newer, has only 17 homes/condos to look at in a sampling of 15 cities. Of the 15 cities, the following nine cities had zero options: Scottsdale, Surprise, Peoria, Chandler, Tempe, Goodyear, Fountain Hills, Gilbert and Paradise Valley. There were 10 properties in Phoenix, 2 in Mesa, 1 in Glendale, 1 in Buckeye, 2 in Avondale and 1 in Laveen.
More disclosure s about HOAs should be made, and laws to equalize the industry giving owners more rights. Call your legislators and speak up at your City Council meetings.