• HOA Myths and Misconceptions Series: Assessments

    • By Laura Otto

      We have read about them in the news: Myths and misconceptions about living in a homeowners association. Myths like, all HOAs are the same and rules are rules and can’t be changed. Misconceptions such as assessments and fees are the same thing and homeowners have no say in decisions; it’s all up to the board. Our series will look to dispel common HOA myths and misconceptions through practical advice from industry experts.

      A common HOA myth is that resident’s don’t have to pay for amenities they don’t use. The truth is that every amenity in a community whether it’s a luxury one like a fancy aquatic center or snow removal from the parking lot, is the obligation of every member in the community. Every resident pays assessments to take care of those amenities.

      Thomas M. Skiba, CAE, chief executive officer at CAI, shares what assessments are and what happens when an owner in your community is delinquent.