October 21, 2019, 09:10 AM
BB61Neighborhood jerks, tightwads, and small minds.
quote:
Originally posted by LoboGunLeather:
No lake here but I do live in a HOA community. Recent hail storm did about $400,000 damage to roofing. HOA insurance policy has a deductible equivalent to $2300 per household, so there will be assessments to cover that.
Typical property value is $350K, and you would think that the owners would suck it up. But no, screaming and crying and finger-pointing like it was the end of the world.
Personally, I carry insurance coverage for HOA assessments. $500 deductible and my insurance company will pick up the rest. For 3 years when I served on the HOA board I repeatedly recommended such coverage to the other homeowners, but apparently many of them paid no attention. It costs me about $30 per year for that coverage.
Other peoples' children. I refuse to accept responsibility for them.
^^^^
I've never heard of that type of insurance. Valuable information.
October 21, 2019, 09:23 AM
TMatsI am now on the Board of our HOA because there were Board members elected prior to me who looked at all the open space and had big plans to create playgrounds, basketball courts, community centers, etc. My feeling, shared by many of my neighbors, was, “if you want all those amenities, move to a development in town.” Besides, the covenants were made part of our deeds when buying into the rural development and the open spaces were key to our interest in the property.
I tried to be on Next Door. I had to drop it. Day after day of “suspicious cars,” and unidentified loose dogs. I couldn’t take it anymore.