hoa: What does SINGLE FAMILY REALLY mean? - 06/11/14 11:29 PM
I RARELY take condo/townhouse properties in self-managed HOAs because of the burden of educating many board members on the nuiances of their rules and regulations NOT conforming to state and federal laws.
 
I did take a townhouse a few months ago and got it rented with almost a month lee-way to get lease approval from the 4-person board of directors.
 
I sent a copy of the 6-page lease to the designated board member and as well as my owner and waited a week.
 
After conferring with my owner on the NON-response from the board member, I sent all … (2 comments)

hoa: Earth to HOA Boards of Directors! Yes, You Need a Stinking Website OR Fb Page - 10/09/11 04:17 AM
I have several units in a townhouse property with VERY active ONsite board members.  Although they have a professional management company, the board * especially the president * likes to keep everyone AWARE of what is going on with weekly e-mails.
Recently, she UNILATERALLY changed the rules of the HOA to prohibit the use of grills on the decks......HELLO!  There is a process for the change of these rules and it involves notification to the HOA owners and some discussion.  This board president took it upon herself to MISread an edict from our local Fire Marshall about the use of … (10 comments)

hoa: Sometimes the RULES DO NOT Apply! HOAs Need to Take Residential TENANTS Into Account! - 04/01/11 06:14 AM
I just received an e-mail about the new rules and regulations being promulgated at an HOA property where I manage some rental units. They are to be effective TODAY*April 1 * and were approved by the board of directors earlier this week.

NOT SO FAST!  These rules should 1) have been provided at the time of the signing of the lease for Virginia common law leases; OR 2) with REASONABLE notice and they can not MATERIALLY change the tenants' bargain in their lease. SO * what is a HOA to do?  First * use the rules and regulations in … (4 comments)

hoa: Condo Purchasers * Ask about FAIR HOUSING COMPLAINTS Against the HOA - 10/08/10 12:51 AM
Real estate agents representing buyers and sellers of condo/HOA units should be asking for a detailed list of pending litigation AND fair housing complaints when getting HOA financial packages.....even if there is no budget item for attorney/legal fees.
 

This complaint by the VA AG's office shows how important reading the HOA rules and regulations AND asking about current or pending litigation impacts would-be buyers and sellers. Sellers should have copies of the board minutes as well as annual meeting minutes and review the board's actions that may not have been done in accordance with local, state and federal … (6 comments)

hoa: Perils of No-Rentals Restrictions in HOA/PUDs - 07/01/08 01:10 PM
I've been following Jeff Opdyke's Love & Money articles in the WSJ....he and his wife were all set for him to take a position with WSJ in Hong Kong.  The chance of a lifetime for their family...only problem was getting their current home sold.  They tried and tried to get it sold and ran out of options and had to turn the job down....their subdivision did not allow them to rent out their home while they were gone and they could not afford to pay their mortgage and $4,800 rent in Hong Kong,
In last Sunday's article, he outlined what their … (4 comments)

hoa: HOA "NAZI" Can Cost ALL Owners $$$$ - 06/08/08 07:31 AM
One of the main reasons I have not suggested purchasing condos as investments has been the tendancy to have self-managed board of directors cost ALL owners money.A few Sundays ago, I was at my office when I received a phone call on one of my rental signs.  The caller identified himself as member of the new board of directors and that my FOR LEASE sign would have to be removed.  For the last 2 years, the new HOA had been self-managed by the developer who obviously had had sufficient sales to trigger the formation of the HOA under the original governing … (1 comments)

 
Wallace S. Gibson, CPM, LandlordWhisperer  (Gibson Management Group, Ltd.)

Wallace S. Gibson, CPM

LandlordWhisperer

Charlottesville, VA

More about me…

Gibson Management Group, Ltd.

Office: (434) 825-1933

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