Newguy07
12-15-2007, 04:06 PM
Do the developers get a cut in the HOA fees or is this a somebody still making a little bit of money off of HOA fees?
Does anybody know this?
Strangeholliday
12-15-2007, 04:27 PM
It pays for the upkeep of the grounds, Their usually is a treasury of the home owners association which has control of the account which the money is deposited, the developer has no interest in the hoa after it is turned over to the home owners,
and even before when the hoa is still in the developers name.. (typically before a place is 90% owner occupied) Its in the developers best interest to keep hoa fees low, because they want to sell.
One of the developers I work with, adds incentives, for one of her properties the 290.00 HOA covers all the upkeep of the grounds, pool etc, and wireless hi speed internet, cable tv with HOA movie channels..
Thats a damn good deal.
Strangeholliday
12-15-2007, 04:30 PM
BUt every now and then you'll see the treasurer of a certain HOA using funds for other things, often times they'll get caught, but it happens. still has nothing to do with the developer however