Kiisu

Homeowners Associations: Villians Or Victims in Foreclosure Crisis? [Housing Tracker]

I've had an admittedly difference experience... after a wee bit of a revolution where we removed the entire previous board, fired the attorney who obviously represented the management company, and fired as well as the management company... (we had a number of good financial and legal reasons for such drastic action)

We went self-managed. Our finances are now in very good shape (per our last annual audit, instead of at the brink of bankruptcy), our annual fees have remained unchanged in years and the property looks better and is better managed... needed repairs are being completed... at a reasonable cost... no more triple billing, contractors are held to their contracts (instead of hiring a 2nd contractor to fix the first's errors, and a 3rd contractor to fix the second's).

Not saying our approach works for everyone, nor that it is perfect, but it is dramatically than before and is definitely working for us...

And it is nice to no longer be held hostage to and act as a cash cow for a management company.