Spyke

Syndicated from the fediverse. Read and engage on the original instance.

View original on lemmy.world

12 replies

"Peters said HOA lobbyists were making headway negotiating the bill and coming to a mutual agreement, but on June 27, the HOA language from SB 681 was added into AB 130 and passed three days later, leaving the HOA industry reeling. “As an industry, this came as a shock,” she said. “Everyone is scrambling to get a handle on the changes.” Peters said no one likes paying fines, but noted that fines aren’t a money-making tool for HOAs."

If it's an industry and has lobbyists, I would venture to guess that it is also a money making operation.

38
NOT_RICKreply
lemmy.world

I’ve never seen the words HOA and lobbyist used in conjunction. Pure horror

24

There are HOA management companies. They work kind of like rental property management, but messing with property people actually own, so the board doesn't actually have to do anything. They often go ham on handing out fines to justify their existence to the board-they probably get a cut off the fines. Most of those horror stories you hear are due to these companies.

John Oliver did an episode on them a few years back.

12

the door was INSIDE? what the fuck is wrong with your country man

15

As of recent estimates, Homeowners Associations (HOAs) in the U.S.) generate approximately $100 billion to $110 billion in annual revenue.

Here’s a breakdown of the numbers: • Number of HOAs: Over 360,000 across the U.S. • Households governed by HOAs: ~75–80 million people, or about 27–30% of the U.S. population. • Average annual HOA fees: Typically range from $200 to $400 per month per household, though this can vary widely depending on region and amenities.

Calculation (rough estimate): • Assume 40 million households in HOAs. • Average fee: $300/month × 12 months = $3,600/year • $3,600 × 40 million = $144 billion/year potential revenue

But not all of that is counted as formal “revenue” due to reserves, unpaid dues, or variable costs. So economists and industry sources usually estimate actual annual revenues around $100–110 billion.

Sources: • Community Associations Institute (CAI) • U.S. Census Bureau housing data • Industry reports on property management and community associations

2
lemmy.world

Wow, that headline is extremely misleading. The homeowner got fined by her HOA not for the door, but because she modified plumbing going into other units without approval or inspections.

2

You reached the end