I heard today from reader ME, who added her perspective on the HOA story today. She rents a condo in the River Colony complex in Mission Valley, a condo conversion with about 300 units.
The HOA of the condo project has assessed its owners a one-time charge of $8,236 to make up for some repairs to the roof that weren’t covered by a previous lawsuit against the contractor.
ME has lived in the complex for a few months and shared this perspective:
They were trying to do a lump assessment that everyone had to pay by January 1, but the homeowners are trying to get enough votes to up their HOA payments until it is paid off. It is a terrible situation. The condo next door to me was foreclosed, as were countless others, I am sure. …
I rent a condo there, so I am not really affected, but I know that everyone is stressed out. They are trying to take this vote that will make it be broken down into the monthly payments as opposed to the bulk assessment. They have put notices on people’s doors asking the owners to vote in favor of the payments, but I am not sure enough people have been paying attention for them to get the votes they need. …
I just thought it was so funny that people were stressing about $500 (which is a lot of money) when this almost $9k assessment is happening over in Mission Valley.
How about you? Do you have (or have you heard) special assessment horror stories? Send me an e-mail at email@example.com.