{"id":8361,"date":"2018-02-20T21:16:08","date_gmt":"2018-02-20T21:16:08","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/hoa-board-elections\/"},"modified":"2018-02-20T21:16:08","modified_gmt":"2018-02-20T21:16:08","slug":"hoa-board-elections","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/hoa-board-elections\/","title":{"rendered":"HOA Board Elections"},"content":{"rendered":"

\n<\/p>\n

\n

Question:<\/b> Our condo has an election coming up: eight applicants for four positions. Residents are sent packets with applicants’ resumes and proxy sheet to mail n if they are not able to attend the meeting to vote in person. Some residents ignore the entire event.<\/p>\n

Some applicants are going door to door asking residents to sign a proxy form for them. These applicants will then walk into the meeting with signed proxies – more or less rigging the voting process.<\/p>\n

This process just appears to me to be slightly unethical. Please send your opinion. – Bonnie\n\t\t\t\t<\/p>\n

Answer:<\/b> Bonnie: Join the wonderful world of condominium living. Personally, I don’t like the concept of a “proxy;” if you care enough about your association, come to the meetings. However, as a practical matter, proxies are usually needed to meet quorum requirements.<\/p>\n

I do not, however, consider what is occurring in your association unethical. What’s wrong with meeting with fellow owners and trying to get their vote. That’s the way politics works for national, state and local elections, so why is it wrong in your association?<\/p>\n

So long as all potential candidates have the same opportunity to solicit votes, that, in my opinion, is democracy.<\/p>\n

Question:<\/b> When a condominium association needs to make a decision regarding a choice between an assessment versus increasing condominium fees, which is wiser? Our over-55 community has six sub-associations and unfortunately ours has depleted our reserve funds<\/a> due to the repair of some extensive structural damage for which the builder is no longer responsible after almost 14 years.<\/p>\n

The property management company contends an assessment is less desirable and would result in a negative for the entire development. I feel that a seriously depleted reserve fund is more detrimental and should be addressed with an assessment immediately versus increasing the monthly fees. – Joan<\/p>\n

Answer:<\/b> You asked a very good question, but unfortunately, there is no easy answer. This can not be answered in a vacuum; we have to look at all of the facts. And perhaps the most important fact is to analyze the makeup of the owners. Can they afford a large assessment? Will such an assessment trigger more defaults, which would make your financial situation even worse.<\/p>\n

What repairs are immediately needed? Has the board considered getting a bank loan<\/a>, especially now that interest rates are low? Has the board considered a combination of assessment and increased monthly fees?<\/p>\n

Bottom line: The board – with the input of owners such as you – should carefully consider all of the facts (and all of the various options) before making a decision. There is no universal answer.<\/p>\n

Question:<\/b> I have not seen or I have missed info in your column on reverse mortgages. I’m 77 and have my own home. I have four adult children who own their homes and are not interested in mine. I still have a mortgage<\/a> balance of $113,000. Would you please provide me with some information on reverse mortgages – the pros and cons or who I can get in touch with for info? Mary.<\/p>\n

Answer:<\/b> Mary: Perhaps the best place to start learning about reverse mortgages is from the AARP. They have lots of helpful material which you can get online.<\/p>\n

Pro:<\/b> Depending on the value of your house and the amount (if any) of your current mortgage, you can get a lump sum right now.<\/p>\n

Alternatively, you can receive a monthly payment for the rest of your life or until the house is sold. And this is true even if these payments ultimately exceed the value of your house.<\/p>\n

Con:<\/b> You still have to pay the insurance<\/a> and the real estate<\/a> tax every year. You still have to maintain the house. And perhaps the most significant negative: You may have no equity left in the house to give to your children or your grandchildren.<\/p>\n

I cannot – in this short column – provide more information. In addition to AARP, there are a lot of helpful studies and articles on the web, which you can find just by searching “reverse mortgages.” But beware of scammers. And don’t rely on testimonials from famous people; those are paid commercials that favor the mortgage lender.<\/p>\n<\/p><\/div>\n

Realtytimes <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Question: Our condo has an election coming up: eight applicants for four positions. Residents are sent … HOA Board Elections<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":8362,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,3604,1399,3605,3606,3607,3608,3609,3610,3611,3612,3613,3614,12908,543,127,617,698,408,312,1007,41,71,818,84,219],"class_list":["post-8361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-colorado-hoa-board-elections","tag-development","tag-georgia-hoa-board-election-rules","tag-hoa-board-election-results","tag-hoa-board-election-rules","tag-hoa-board-election-rules-california-2020","tag-hoa-board-election-rules-florida","tag-hoa-board-election-rules-texas","tag-hoa-board-elections","tag-hoa-board-elections-california","tag-hoa-board-elections-during-covid","tag-hoa-board-vote-of-no-confidence","tag-home","tag-home-buying-guide","tag-homes","tag-house","tag-insurance","tag-mortgage","tag-mortgages","tag-owners","tag-property","tag-property-management","tag-real","tag-real-estate","tag-realty"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/3dc68dc84b1d266cb45bc6de5fa7fea5_S.jpg?fit=424%2C277&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3268,"url":"https:\/\/amazingproperty.com.ng\/blog\/ask-the-hoa-expert-fixing-a-units-roof\/","url_meta":{"origin":8361,"position":0},"title":"Ask the HOA Expert: Fixing A Unit's Roof","author":"Amazing Property","date":"April 11, 2017","format":false,"excerpt":"Question: Can individual unit owners prepay their fees in order to fix just their unit's roof? Answer: Condo unit owners typically don't own their unit roofs unless they are detached units, like houses. In attached condominiums, the roofs belong to the HOA. As such, roof repairs and replacements should only\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1237,"url":"https:\/\/amazingproperty.com.ng\/blog\/ask-the-hoa-expert-procedure-for-voting-in-person-and-voting-by-proxy\/","url_meta":{"origin":8361,"position":1},"title":"Ask the HOA Expert: Procedure For Voting In Person And Voting By Proxy","author":"Amazing Property","date":"February 23, 2017","format":false,"excerpt":"[ad_1] Question: At our annual meeting, the procedure for voting in person and voting by proxy was different. Those who attended the meeting registered by signing in. Proxies were only counted if the signature on the form matched the signature of record. Is this standard procedure? Answer: Presumably, whoever was\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/34e93e9a56394a1ddcdc8c9a350d7694_S.jpg?fit=424%2C287&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4587,"url":"https:\/\/amazingproperty.com.ng\/blog\/ask-the-hoa-expert-reviewing-and-approving-annual-budgets\/","url_meta":{"origin":8361,"position":2},"title":"Ask The HOA Expert: Reviewing And Approving Annual Budgets","author":"Amazing Property","date":"May 16, 2017","format":false,"excerpt":"Question: Our budget process takes place in the fall so we will have an approved budget at least 30 days prior to the start of our fiscal year which begins in January. As it turns out, we hold our annual meeting in January and a new board will be elected\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/e1c8918518639e39b82306bf36f0cc9b_M.jpg?fit=300%2C242&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8755,"url":"https:\/\/amazingproperty.com.ng\/blog\/ask-the-hoa-expert-special-assessments\/","url_meta":{"origin":8361,"position":3},"title":"Ask the HOA Expert: Special Assessments","author":"Amazing Property","date":"June 19, 2018","format":false,"excerpt":"Question: Our pool and clubhouse are 15 years old. The board wants to build a larger pool and upgrade the clubhouse which would require a $200,000 special assessment and drain our reserves. Answer: The board has no authority to expand the common area amenities. Its authority is to maintain existing\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"E8818cad7eb0f0fcdbf83644ef75b7e1 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/06\/e8818cad7eb0f0fcdbf83644ef75b7e1_S.jpg?fit=424%2C264&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5018,"url":"https:\/\/amazingproperty.com.ng\/blog\/enforcing-long-unenforced-rules-in-your-hoa\/","url_meta":{"origin":8361,"position":4},"title":"Enforcing Long Unenforced Rules In Your HOA","author":"Amazing Property","date":"June 20, 2017","format":false,"excerpt":"It may come as little surprise that quite a few homeowner association boards fail miserably in rule enforcement, especially in self managed HOAs. Let's face it, confrontation with neighbors is not something most people look forward to. So when certain members play fast and loose with the rules, these boards\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/a27637d9885400f79146d14a648a5741_M.jpg?fit=300%2C242&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7442,"url":"https:\/\/amazingproperty.com.ng\/blog\/ask-the-hoa-expert-repercussions-when-a-board-throws-out-a-member-decision\/","url_meta":{"origin":8361,"position":5},"title":"Ask the HOA Expert: Repercussions When A Board Throws Out A Member Decision","author":"Amazing Property","date":"December 12, 2017","format":false,"excerpt":"Question: What are the possible repercussions when a board throws out a member decision voted on at the Annual Meeting?\r \r Answer: If member approval is required to do what you describe, the board must follow the dictates of the vote. If the vote was advisory only, the board could\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"0cd24ebb284cab12be291f885800596c S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/0cd24ebb284cab12be291f885800596c_S.jpg?fit=424%2C277&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=8361"}],"version-history":[{"count":2,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8361\/revisions"}],"predecessor-version":[{"id":90598,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8361\/revisions\/90598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/8362"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=8361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=8361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=8361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}