Realty Times - Raising Cash Without Homeowner Association Assessments



"Instead of yet another assessment levied against home owners, how about a pancake breakfast bash, a rummage sale or selling ads in the homeowner association newsletter to come up with the money to replace that outdated roof on your condo development?"


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The article is about a 1999 book by CAI called "Increase Income, not Assessments." The article also mentions holding a car wash, setting up a service bureau, offering your development as a movie set, auctions, bingo, and renting parking places, etc.

I was wondering who exactly is supposed to have the time and energy to do all this car washing and cookie baking, considering that the HOA directors and committee members are volunteers who presumably have lives of their own. I wonder, if people won't make cookies for the bake sale, can you foreclose on them? Maybe I'll have to read the book to find out.

UPDATE:
Fred Pilot has sent the following correction to Broderick Perkins, author of the Realty Times article linked and quoted above:

"This quote was attributed to me in your story at

http://realtytimes.com/rtcpages/19991216_assessments.htm


"I would expect an HOA's non-profit corporation charter could be jeopardized if the HOA's primary activity and source of income is business ventures designed to produce profits," said Frederick L. Pilot, president of the Sacramento, CA-based Common Interest Consumer Project.

It's not mine. Apparently you intended to quote Nancy Bianconi who is cited the the graf immediately preceding the quote attributed to me. Also, FYI the Common Interest Consumer Project was dissolved more than two years ago and the link you have for it above is dead."