Saturday, April 07, 2012

The pros and cons of homeowners associations - Yahoo! Finance

The pros and cons of homeowners associations - Yahoo! Finance

"Most associations work reasonably well most of the time, but there are tons of examples of really troubling rules," says Evan McKenzie, associate professor of political science at the University of Illinois at Chicago and author of the book "Privatopia: Homeowner Associations and the Rise of Residential Private Government."
Among other actions that have aroused controversy, associations have banned owners from renting out residences and have forbidden inflatable lawn ornaments at Christmastime.
HOAs and condo associations are bound by state laws. Florida, Nevada and Virginia have ombudsmen to hear complaints. In the rest of the states, the state government plays a minimal role, McKenzie says.
This is basically an "on the one hand, on the other hand," article.


Anonymous Homeowner said...

The "pro" side of HOAs is that the benefits are enjoyed by the

- developers
- municipalities
- property management companies
- specialized law firms
- the CAI

The "con" side of HOAs is that the costs are borne by the

- homeowners

Anonymous Developer, Policy Maker, Property Manager, HOA Lawyer, and Lobbyist said...

Anonymous Homeowner is wrong.

The "pro" side of HOAs is that

- HOAs benefit developers
- HOAs benefit municipalities
- HOAs benefit property management companies
- HOAs benefit specialized law firms
- HOAs benefit the CAI
- the homeowners bear all the costs

There is no "con" side to HOAs.