Saving a Failing HOA
Identifying what is wrong
Water Problems
Roof Leaks
Rain water not draining
Leaks between units
Units clogging drain and water backing up
Gutters not correctly draining water
Termites
Tenants/Owners/Guests mis-behaving via littering, breaking locks, and etc
Broken and low quality locks
Bad Paint
Most likely the reason for the current state of the Complex is because:
Mis-management of funds - hiring cheap repairman and not wanting to spend the money to do the job right which costs more in the long run
Low HOA dues - the board things that by keeping the HOA dues low that is a metric by which the rest of the residents/owners will be pleased with them.
In capable board. The decision making of the board to enforce fines, rules, order, and preventative maintenance.
Lazy/Incapable/Bad Management Company.
Understand the Process
Picture how this process of a failing HOA or building will turn its self around. Things will have to change, people will be upset and some people will be pleased. The current people that are a part of the problem will probably leave and new people will come that will not see or know the struggles it took to get to where you are at.
What do you want? Are you in this for the long RUN?
Get on the board
Being on the board will allow you to:
suggest repairs and improvements that are needed
help make decisions on fines and warnings
Increase HOA dues
This is an age old tale. The reason things are not getting fixed is because there is no money to do so. If we increase the dues then what are you going to fix? Most repairs are not something people / residents see.
Roof repairs are not something people notice and appreciate, but a new paint job is. A new paint job feels like things are better and look better, while a major roof repair costs more and you can not see the difference.
The only way things have a chance to improve is by having the financial means to do it. So it starts with the money.
Effects:
People that can not pay will either Sell their condo (great, someone who can afford it will buy and more capable owners will come) or they will complain. This could be old board members will leave.
More money for repairs and improvements, obviously.
Repairs and Improvements
Start with what does the most damage. That is mostly always anything to do with water.
Important to identify what things cause other things to happen, for example, like fixing the locks are pointless because some keeps damaging them. So a security system will allow other repairs to be done.
If the board does not agree with making the repairs needed because “we dont have enough money”, “what if something else happens and we dont have enough for that?”, “I think we should just fix the locks and take our chances, also it costs way less than a security system”. I found a great trip is to suggest that you pay the repair(s) you want seen or done and the HOA credits your account. Meaning that you do not pay the HOA dues in the amount of the repairs to paid for.
Anything to do with water - good work is not cheap and cheap work is not good.
Security / Accountability (Security Cameras) - Other repairs are possible like new locks, paint job with no graffiti, and etc. Discount on master insurance policy? Residents and Guests are deterred to misbehave if they know they are being watched. Additional income from fines.