Portland, OR - Readers who have been following the HOA Detective blog for any length of time should know by now how yours truly feels about the construction defect litigation racket. Thanks in no small part to Oregon's overly lenient statute of limitations, which allows a homeowner association to bring a civil action against a … Continue reading Local Condo Association Receives $3M Construction Defect Settlement For ONE Leaky Door!
In our first installment of this series we introduced a story-line that began in July 2015 when CIDA's predecessor Capital Reserve Consultants (CRC) examined a local condominium association for the first time (Association A) and a second similar condominium (Association B) in June of 2016. Both condominiums contained a similar number of dwelling units and … Continue reading A Tale of Two Reserve Studies: Part II
One of the things that we advise all of our clients is that a homeowner association's financial situation can change quickly. Hence, it cannot be assumed that just because an Association received a relatively positive review from CIDA's examiners it will always be a fiscally sound, well run organization. A second piece of advice that … Continue reading A Tale of Two Reserve Studies
Back in 2009, while the housing market was in the process of imploding, Capital Reserve Consultants, LLC (CRC), received an invitation from the Community Associations Institute (CAI) asking if CRC would be interested in submitting a proposal to be a presenter at the upcoming CAI national conference. Never being one to miss an opportunity CRC's … Continue reading The Tipping Point…
What is reserve planning and why is it important to the sustainability of a homeowner association (HOA)? Most people who purchase homes in HOAs have no idea what a reserve study is, or why it is important. In spite of the critical role reserve planning plays in the long-term sustainability of a common interest development … Continue reading Introduction to Reserve Planning
Dateline: Portland, OR - Just when you started to think it might be safe to go back in the water the HOA Detective spots a flock of buzzards feasting on another fresh HOA carcass...In this case the "carcass" was yet another hapless condominium association that had fallen victim to a cabal of the usual suspects. … Continue reading The HOA Blotter: June 11, 2017
Dateline: Portland, OR - This weeks' round-up of HOA horror stories includes the case of a 22 unit, single-building condominium in the Portland area that was forced to levy a special assessment to pay for exterior building renovations after 37 years of under-funding its reserve account. While it is true that many HOAs end up … Continue reading The HOA Blotter: May 7, 2017