Saturday, April 12, 2008

The Board's Dilemma

I had a call the other day from a woman (let’s call her Mrs. X) who was very troubled over recent increases in her homeowners’ association assessment. “I probably can’t live here much longer if this keeps up!” she said. Turns out the board of directors had raised the assessments by 20% on top of similar increases a year ago. They also levied a special assessment to fix some unexpected problems with the buildings. “You know what they did when I complained?” She said, “They handed me your book and said to read it!” She was referring to the treatise we wrote a couple of years ago entitled “The Uncertain Future of Community Associations” (See link on the left) a discussion of the perils of under funding association reserves. According to my caller, the board was using the book as at least part of the justification for the assessment increases...

Read the Full Publication: "The Board's Dilemma" --Click the Title link or Download link on the left...

1 comment:

  1. My guess is that many people prefer anonimity to public exposure, however, I think Tyler is doing a big public service by sharing his experience and opinions expressed here. Thanks!

    I haven't figured out the url thing yet.

    Tony Verreos
    Verreos Insurance Agency
    Brisbane, CA