William asks…
Can the HOA president do that?
What do you think about the President of the HOA Board pooling funds with his adult children to buy one of the condos here that was foreclosed in by the HOA Board for non-payment of HOA fees? It seems the HOA attorney worked quickly to seal the deal, and they got the unit for tens of thousands below market value. Legal, unethical, illegal or just one of the HOA "perks". In California - and you know what housing costs are like here! Let's say he got the condo in 2006 for a 1996 price.
Anne answers:
Unethical but
Sunday, August 21, 2011
Saturday, August 20, 2011
HOA Condominium | HOA under litigation and I can't get a loan. Who's responsible for expenses?
Lizzie asks…
HOA under litigation and I can't get a loan. Who's responsible for expenses?
My lender cannot approve my loan because the condominium HOA is under a litigation (on a different unit in the same complex). We are in escrow and paid for inspection and never knew about this litigation until the escrow documents came out including the HOA reports.
Who is responsible for the expenses?
Anne answers:
You may try and sue the HOA for any and all expenses you incurred. I really don't know how you would come out in a legal law suit against them.
Normally
HOA under litigation and I can't get a loan. Who's responsible for expenses?
My lender cannot approve my loan because the condominium HOA is under a litigation (on a different unit in the same complex). We are in escrow and paid for inspection and never knew about this litigation until the escrow documents came out including the HOA reports.
Who is responsible for the expenses?
Anne answers:
You may try and sue the HOA for any and all expenses you incurred. I really don't know how you would come out in a legal law suit against them.
Normally
Friday, August 19, 2011
Who does the HOA lawyer represent?
John asks…
Who does the HOA lawyer represent?
I am an owner and a resident of a condominium complex. During one of our HOA meeting, things got heated and there were flames being thrown around from both side of the aisle. That evening, we sent our Board president a nasty letter telling her to cool it. Names were called but we did not make any threats. The following month (about 4 weeks after the incident), I received a letter from our HOA lawyer threatening me with a restraining order. The HOA lawyer and the president of the Board is really tight. They're buddy buddies.
Who does the HOA lawyer represent?
I am an owner and a resident of a condominium complex. During one of our HOA meeting, things got heated and there were flames being thrown around from both side of the aisle. That evening, we sent our Board president a nasty letter telling her to cool it. Names were called but we did not make any threats. The following month (about 4 weeks after the incident), I received a letter from our HOA lawyer threatening me with a restraining order. The HOA lawyer and the president of the Board is really tight. They're buddy buddies.
Florida HOA Lien Law
Sandra asks…
Florida HOA Lien Law
In 2008, I received a claim of lien from a lawyer because of non-payment of HOA fees for my condo. I was not able to pay since 2007 because I lost my job and I was losing my condo. This year I started to work to get back the house with the new modification law. In april, I received the claim of lien again but dated 4/15/10 with the new HOA dues. The letter says that if I do not pay, the lawyer will put my house in foreclosure. I want to make a payment plan but my question is if I have any right or any trick to try to pay less? Because
Florida HOA Lien Law
In 2008, I received a claim of lien from a lawyer because of non-payment of HOA fees for my condo. I was not able to pay since 2007 because I lost my job and I was losing my condo. This year I started to work to get back the house with the new modification law. In april, I received the claim of lien again but dated 4/15/10 with the new HOA dues. The letter says that if I do not pay, the lawyer will put my house in foreclosure. I want to make a payment plan but my question is if I have any right or any trick to try to pay less? Because
Thursday, August 18, 2011
Homeowners Association Resource Kit
Homeowners Association Resource Kit
HOA Handbook - Practical, Down-to-Earth Guidance for HOA Officers & Association Managers
Guide to HOA Management Using QuickBooks®
Example QuickBooks Reports, Exported Microsoft Excel® Worksheets & Microsoft Word Templates
Installation CD with Menu Viewer to View Files & Templates
USPS PRIORITY MAIL SHIPPING ON ALL ORDERS! - Just select standard shipping.
ATTENTION: HOA OFFICERS!
Need help managing your Homeowners Association?
Would you like your HOA to be professionally operated without the high cost?
LOOK NO FURTHER -
HOA Handbook - Practical, Down-to-Earth Guidance for HOA Officers & Association Managers
Guide to HOA Management Using QuickBooks®
Example QuickBooks Reports, Exported Microsoft Excel® Worksheets & Microsoft Word Templates
Installation CD with Menu Viewer to View Files & Templates
USPS PRIORITY MAIL SHIPPING ON ALL ORDERS! - Just select standard shipping.
ATTENTION: HOA OFFICERS!
Need help managing your Homeowners Association?
Would you like your HOA to be professionally operated without the high cost?
LOOK NO FURTHER -
Do we have the right to refuse to pay the maintenance charge?
Richard asks…
Condominium: Do we have the right to refuse to pay the maintenance charge?
My developer is responsible for all building damage under the one year warranty he stated in condo book. The heating unit is broken down in our unit and he is ignoring our request to fix it. Since he is the sponsor and still have the HOA we donot haveboard members to represent us and has handed over our escrow account . Can we just take money we normally pay for the management to pay for the heating repair?
Anne answers:
No you don't, sorry.
Michael
Condominium: Do we have the right to refuse to pay the maintenance charge?
My developer is responsible for all building damage under the one year warranty he stated in condo book. The heating unit is broken down in our unit and he is ignoring our request to fix it. Since he is the sponsor and still have the HOA we donot haveboard members to represent us and has handed over our escrow account . Can we just take money we normally pay for the management to pay for the heating repair?
Anne answers:
No you don't, sorry.
Michael
Wednesday, August 17, 2011
Condo HOA's Tax Return
Steven asks…
Does a condo association have to file a tax return?
I live in a 6 unit condo block. We are self-managing and we charge a HOA fee. Do we have to do a tax return for the Condo Assoc income?
If so, what is deductible?
Anne answers:
You should file form 1120-H, which can be found at http://www.irs.gov/pub/irs-pdf/f1120h.pdf
The instructions should tell you all you need to know.
If the only income the association receives is the HOA fee, then it should not owe any tax, but you must still file the form.
Mary asks…
What is
Does a condo association have to file a tax return?
I live in a 6 unit condo block. We are self-managing and we charge a HOA fee. Do we have to do a tax return for the Condo Assoc income?
If so, what is deductible?
Anne answers:
You should file form 1120-H, which can be found at http://www.irs.gov/pub/irs-pdf/f1120h.pdf
The instructions should tell you all you need to know.
If the only income the association receives is the HOA fee, then it should not owe any tax, but you must still file the form.
Mary asks…
What is
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