Another Slam For Homeowners

As if homeowners aren’t taking hits left and right, it seems there is another hit to try and dodge – HOA’s.

One thing localites have to deal with here are HOA fees.   The OC Register reports: 

Homeowners associations exist to manage the common property shared by a group of homes or condominiums. About 11 million Californians, or a third of the state’s population, live in homes with homeowner associations, according to the Laguna Hills-based California Association of Community Managers.

It seems no matter where you live they are there, ready and waiting for us.  The article reports a new problem – delinquent HOA fees.  They reported an increase in delinquencies from Merit Property Agency, and I can only guess it’s the same at other agencies.  Even if you’re not delinquent, this affects you. 

When accounts go delinquent the HOA hurts.  They lose interest on the amount they would be putting into savings to accrue interest.  Projects that are in need of funds get put on the back burner.  What can be done?  Not much.  As we’re seeing today, lots of markets are frozen until the economy starts to pick up.  So if you’re ready to send another brash email to your HOA management company about that tree that’s been needing trimming for some time now, be nice.  They’re probably just as annoyed as you are!