HOA Homefront: Do our balconies require inspection?
The responsibility comes down to what a community has ruled in its CR&Rs.
Source: dailynews.com
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The responsibility comes down to what a community has ruled in its CR&Rs.
If a homeowner is unable to pay assessments the consequences can be very expensive and even disastrous.
HOAs are not as flexible as individual homeowners in their ability to draw on credit to pay for unexpected household expenses.
At some point, the HOA will send unpaid fees to collection, and the assessment collection company will begin adding their fees to the debt.
The law requires home owner's associations to keep their corporate status current, and failure can be disastrous.