Let homeowners control HOAs: "Across Arizona, there are over 100 developments in financial trouble. Most have homeowner associations that remain under the control of a failed developer or lender. Because of this, hundreds of homeowners live among vacant lots filled with debris and weeds, little or no maintenance for common areas and decreased property values because of the blight. These homeowners want to clean up their neighborhoods but often can't because the developer or bank maintains control of the homeowner association, the common area and the HOA treasury.
Legislation that would allow homeowners to take control of their neighborhood and HOA would be smart and practical for these situations. This is a matter of protecting property rights and home values.
Let's allow those who bought and are living in these new neighborhoods with completion delays make the decisions for the HOA instead of a bank or financially distraught developer"
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So says Sam Wercinski, Arizona's Real Estate Commissioners.
3 comments:
Homeowners take control? Under the influnce of WHO? Hasn't this been tried all over the USA and how many innocent, unsuspecting families made homeless by greed driven board members and their non-law abiding associates? It appears, a lot of the legislation enacted, protects no one but the thieves!
Arizona's Real Estate Commissioner's need to do their homework.
There has to be a better way!
Why not eliminate the HOA entirely?
In Florida, developer-controlled HOA's are a major problem as sales stop and their control stretched over a decade. A moribund HOA controlled by a developer is a clear and painful conflict of interest. The Florida legislature is considering dramatic changes that need HOA citizen support. Read more at
http://www.riverclubinvero.com/developerHOA.aspx
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