Got my new HOA assesment for 2015 and the price increase is about 25% and I dont understand for what exactly. They do nothing other than mow the sidewalk lawns. 1) Why do HOA dues increase? Can they increase every year? 2) Is there any recourse on the HOA dues? Or what the HOA says, goes? Just trying to get some info on this topic.
How big is your neighborhood/HOA? Did you attend the HOA meetings? They generally have to take meeting notes - you should request to see them. You should also request to see financial information. I'm assuming they have a landscaping company that maintains the lawns, and it's likely the rates went up. The rates may be increasing because people aren't paying them. Or, if you have a management company representing the HOA, they may be increasing their rates. There are a ton of reasons the rates could be increasing, but I'd start by requesting meeting notes and financial information. And yes, the HOA could theoretically place a lien on your house for unpaid HOA dues. This process costs the HOA money, which in turn, eventually increases rates for everyone else.
But even if i go to those meetings, and i see the numbers, they can validate them however they want, not sure what exactly i could do to change their budget etc.
Well, you'd at least get an idea what you're paying for. Maybe you're paying for something you didn't realize you were paying for. As a financial guy, I guess I always like to at least investigate what I'm paying for. The information could also help you figure out a way that HOA dues could decrease. I used to live in a neighborhood with HOA's. Rates were going up, and it's because the landscaping company rates went up. Once I mentioned it to several neighbors, they all complained and we started shopping for a new landscaper (lo and behold, the old landscaper decided to stick with the previous year's rate). We also found that some of the money was being spent on things it should not have been spent on, as well as uncovering the homes that were not paying their dues. The homes more than 6 months behind on dues all had liens placed on them by the HOA, which, when one of the owners went to sell their home, made it more difficult (and they needed to sell quickly due to a few various issues) and the HOA was paid in full at closing by the escrow company (they take it out of the proceeds before the seller can even touch it).
I hate HOAs more than I hate the L*kers. I would give K*be a backrub and shout M-V-P when he's at the line before I lived in a HOA again. I would give Rick Fox's Hall of Fame induction speech before paying another dime to a HOA. That's all.
My Hoa is only like 40/month and they do my landscaping in the front yard. I'm not complaining and I'm as stingy as they come
Rick Fox is going to the HOF? I, too, hate HOA's. Most everyone in my neighborhood pays to have their yard taken care of by landscape maintenance companies (not that that's the only purpose of HOA's).
Step 1: Run for HOA president Step 2: Create your own secret police Step 3: Tap the interns Step 4: ???? Step 5: Profit
I hate HOA's also, but they also have their advantages. For example, in my neighborhood and only a few houses away from me, one owner painted their house an ugly dark pink with light pink trim and another (next door to pink house) painted their house a really bright light blue. If we had an HOA they would of had to get the color approved first. HOA also forces people to take care of their yards which makes the neighborhood like nice. But I still hate HOA's.
