FUEGO
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Nov 13, 2007
- Messages
- 7,746
IMO condos with smaller associations (fewer than 100 units) are a colossal PITA-- the gene pool is too shallow for professional management and there's too many petty tyrants. Far better to be a condo renter than a condo owner.
It's taken me years to realize that homeowner's associations are actually insurance companies. They exist to suck money out of your pocket, and in exchange they promise to maintain your property value. Their finances are usually difficult to comprehend and they always seem to want more money for less service. Depending on the quality of the company and their exclusions, you may or may not get your money's worth. They're certainly not your friend, although they'll happily accept your volunteer labor, and they can be a tireless enemy.
A condo where we used to live 20 years ago has put their newsletters online. One of them discussed their recent "assessment" issues, including the cost of a professional animal-control contractor to trap the wild raccoons rampaging through the property. I would've been more sympathetic if that column hadn't been right next to their ad for the upcoming community BBQ...
Agreed about the pains of HOAs. Ours was 135 units. There were a few heavyweights that owned 6-7 units each. They dominated the board and ran things how they wanted to since they each owned ~5% of the total votes or ~10% of quorum votes. These folks happened to be penny pinchers so it worked out pretty well financially for us since expenses were kept to a minimum. But we got out and I have no idea how the issues of "deferred maintenance" have caught up with them.
I also realized the OP here is talking about owning a single family house vs. RENTING a condo/apartment I think. So the issues of dealing with an HOA are a little less (although the "good neighbor" rules imposed by HOA's still impact you - ie where you can install satelite dishes, how many potted plants you can have outside, accceptable type, quantity and colors of patio furniture, etc).