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Condo HOA special assessments

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Condo HOA special assessments

Old 05-13-16, 12:49 AM
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Condo HOA special assessments

Searched but didn't find any previous topics.

I knew an assessment was coming a yr or so ago, at that time it was estimated to be 9k over three yrs... all things considered, I was OK with that. (given the horror stories out there) Well, a year and change later, new management company...meeting tonight - 17K, due this yr.

51% needed to decline, only 45% in attendance, boom - passed! It got pretty heated, I half expected a few guys to come to blows. (on a side note - Independence Day itself could not have had better ethnic stereotypes, lol)

Long story short - if you buy a condo, buy a new, nice development...where the chances of this happening are much smaller. I bought into apartment conversions (1st mistake) at the worst possible time.(2nd mistake) The contractor bailed, the suit against him was not successful.. so apparently a significant portion of the buildings were left as the old apartments, which are now starting to fall apart. Quite a mess.

Also - be on the board! No wonder they all sold and left last year, they must've seen the numbers for the proposed budget. Few people were aware of it. We aren't a very organized lot, so I doubt we'd be able to counter in any meaningful way.

I have the $$, though this is not what I had it set aside for. I'd bet a good deal of people don't have it though - which I suppose they'll be required to take out a personal loan for, if they intend to pay. Any possible increase in value will no doubt be offset by a round of foreclosures.

Personally, it took me years to get over my mistake in initially buying...and now all that negativity came flooding right back tonight. But I have as good a scenario as you can have going through something like this - I'm in my hometown, friends and family close, have steady work. A lot of people stuck in a home/condo don't have those things.

So, share you're assessment stories if you got em! I think I'm going to light up a cigar right now!
Old 05-13-16, 01:05 AM
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Re: Condo HOA special assessments

I feel your pain. I just got hit with a 4K assessment for my townhouse complex that needs to be paid within 6 months to avoid penalty. Long story short...They knew problems were arising 3 years ago but they hesitated to raise monthly fees. Needless to say, the entire board stepped down.
Old 05-13-16, 01:38 AM
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Re: Condo HOA special assessments

I'm not familiar with these things, but I am familiar with boards. If you didn't have a majority present, how was any action or vote even taken?
Old 05-13-16, 01:45 AM
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Re: Condo HOA special assessments

Originally Posted by Abob Teff View Post
I'm not familiar with these things, but I am familiar with boards. If you didn't have a majority present, how was any action or vote even taken?
It was a 'vote against' type of vote. Whether the majority was there was irrelevant. I can't say 100% if voting forms were mailed out, I picked up mine at our cabana.
Old 05-13-16, 07:51 AM
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Re: Condo HOA special assessments

I'm the president of my HOA board, although ours is a cooperative, not a condo. All I can say is, if boards weren't namby pamby this kind of shit wouldn't usually happen. The past board where I live didn't want to raise monthly association fees and get people mad at them, so instead they ate into our reserves. When I got back on the board in 2011 after a three-year hiatus, I became the nasty bitch who pushed for fee increases, but I got them, and our books are healthy for the first time in a couple of decades. I'm sorry this has happened with your HOA, Artman, because it really isn't necessary if the board will pay attention and have some foresight.
Old 05-13-16, 09:37 AM
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Re: Condo HOA special assessments

Originally Posted by Vibiana View Post
I'm the president of my HOA board, although ours is a cooperative, not a condo. All I can say is, if boards weren't namby pamby this kind of shit wouldn't usually happen. The past board where I live didn't want to raise monthly association fees and get people mad at them, so instead they ate into our reserves. When I got back on the board in 2011 after a three-year hiatus, I became the nasty bitch who pushed for fee increases, but I got them, and our books are healthy for the first time in a couple of decades. I'm sorry this has happened with your HOA, Artman, because it really isn't necessary if the board will pay attention and have some foresight.
Same thing happened at my Condo HOA. We had low fees, but every quarter there was another $1500 or $3000 assessment to do basic stuff like trimming trees. That board was eventually kicked out and now we have higher fees, but we haven't had an assessment in a while. We probably need one though because our roofs are in pretty bad shape. It's going to cost a bundle.
Old 05-13-16, 11:05 AM
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Re: Condo HOA special assessments

Originally Posted by Artman View Post
It was a 'vote against' type of vote. Whether the majority was there was irrelevant. I can't say 100% if voting forms were mailed out, I picked up mine at our cabana.
That seems crazy to me. First order of business is maybe changing the bylaws that allow that!
Old 05-13-16, 11:47 AM
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Re: Condo HOA special assessments

Originally Posted by LurkerDan View Post
That seems crazy to me. First order of business is maybe changing the bylaws that allow that!
That was discussed, you'd need a nearly unanimous approval...and getting everyone together...well, nearly impossible. You'd think it shouldn't be as hard as amending the constitution...but, it is.

There are special circumstances here... the 2007 contractor fled to Canada, and was unsuccessfully sued. (he transferred the funds to his wife's account) We've had several HOA companies over the years, but this has now come to a head. They made it sound like the place was condemned...but no one thinks it is. I understand we couldn't just do it ourselves over a few wknds... but you'd hope there would be room between that and selling it to company that says it'll take 1.5M. But, again... when you sign, you don't own your exterior. Again, lessons learned.

Man, that fiery Latina is just a few doors down.. I gotta get on that!
Old 05-13-16, 11:51 AM
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Re: Condo HOA special assessments

Originally Posted by Vibiana View Post
I'm sorry this has happened with your HOA, Artman, because it really isn't necessary if the board will pay attention and have some foresight.
They were certainly on the hot seat tonight, but it wasn't there fault. I should've taken a role, I was one of the original buyers for crying out loud. Again just lessons learned...hopefully in 2-3yrs I can just sell and be done with it.
Old 05-13-16, 11:56 AM
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Re: Condo HOA special assessments

Originally Posted by Artman View Post
They were certainly on the hot seat tonight, but it wasn't there fault. I should've taken a role, I was one of the original buyers for crying out loud. Again just lessons learned...hopefully in 2-3yrs I can just sell and be done with it.
Hey, at least you were at the meeting. As an active board member nothing frosts me more than residents who don't bother to attend meetings or get involved in any way until there's a fee increase, then they show up baying for blood.
Old 05-13-16, 07:51 PM
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Re: Condo HOA special assessments

I was on my board on and off for 9 years or so (lived her 16 years now) and luckly we managed the money properly and were somewhat relaxed on "standards". But we have tight streets and parking is the number one problem because:

People don't use their garages
People don't use their driveways

So what do you do? Parking stickers? Just let everyone bitch? (That is the current answer)

I personally don't care, cause I'm off the board, and don't need any of the street parking.
Old 05-13-16, 08:09 PM
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Re: Condo HOA special assessments

Originally Posted by Chrisedge View Post
I was on my board on and off for 9 years or so (lived her 16 years now) and luckly we managed the money properly and were somewhat relaxed on "standards". But we have tight streets and parking is the number one problem because:

People don't use their garages
People don't use their driveways

So what do you do? Parking stickers? Just let everyone bitch? (That is the current answer)

I personally don't care, cause I'm off the board, and don't need any of the street parking.
Our 75-year-old townhouses and duplexes were built back when many families didn't even have cars, and if they did they only had one. You can build a driveway onto your front lawn with board permission, but you have to allow for gas and sewer lines in doing so, and between that and the expense most people say to hell with it, particularly if they have a big hill going up or down in front of their unit which many do.

So we have mostly street parking, and yeah, it's a headache. Quite often, the sixplex I live in has three cars parked in front for ONE unit. Then I have to park my one car clear down the street or in the overflow bays. It is not a good thing. Grrrrrrrrr. But we can't tell people where to park because the streets belong to the city, so legally they can park in any space and we can't assign them.
Old 05-13-16, 09:31 PM
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Re: Condo HOA special assessments

My mother was just hit with a 35k assessment that I believe is due in one chunk.
Old 05-13-16, 10:20 PM
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Re: Condo HOA special assessments

Tell your mother to give them the finger, sell to another Portland Sucker, and put that 35K on another home a few blocks down.
Old 05-13-16, 11:28 PM
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Re: Condo HOA special assessments

Originally Posted by DVD Polizei View Post
Tell your mother to give them the finger, sell to another Portland Sucker, and put that 35K on another home a few blocks down.
It's those damn common walls that make it hard to distinguish one home from another ...
Old 05-16-16, 07:15 PM
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Re: Condo HOA special assessments

What is the 17k needed for? What is the total assessment being raised?
Old 05-16-16, 10:26 PM
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Re: Condo HOA special assessments

Originally Posted by broadwayblue View Post
What is the 17k needed for? What is the total assessment being raised?
Structural repairs for some (but not all) of the buildings, total cost is 1.7m. I'm sure the units effected will appreciate it... but some buildings (like mine) probably aren't going to be touched. Said they went with the lowest of three bids.

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