Neighborhood Experiences Rank Side Effect of Foreclosure Crisis | NBC Washington: "Thursday was trash day in the Lake Crest subdivision. At least, it was supposed to be trash day. As was Monday. And last Thursday. Actually, it's been about two-and-a-half weeks since the homeowners association was able to pay for pick up.
So trash bags and cans line the sidewalks. With Easter on the way, the whole thing smells like rotten eggs.
Not only does trash look bad and smell bad, it behaves poorly, as well, attracting birds, rats and other potentially unhealthy animals.
The problem? Foreclosures. The neighborhood is littered with them. Fewer homeowners means less dues in the homeowners association coffers."
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Another HOA in financial trouble. Insolvency is looming for an increasing number of community associations. Thanks to Fred Pilot for this link.
1 comment:
Why are assessments entangled with trash service? They aren't entangled with water, electricity, or other utility services in this neighborhood - let the homeowners contract for their own trash pickup. The problem with contributing to a private general fund for this is all the vendors that are skimming from the fund - leaving insufficient amounts for the alleged purpose of the collective effort in the first place. Yet again we see that the HOA does not preserve property value for the OWNERS.
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