In the late 1940s, U.S. veterans returning from fighting in World War II struggled to find affordable housing. Bill Levitt, a former veteran himself, recognized the issue and, together with his father Abraham and brother Alfred, invested in more than 4,000 acres of land on Long Island, New York. Using innovative construction techniques, like having specialized teams to concentrate on a specific part of a home and off-site prefabrication, the trio created affordable housing options for veterans, building the community known as Levittown in 1947
The homeowners’ association industry continues to grow and expand, with an estimated 5,000 new HOA communities being built yearly. With continued progress throughout the world, the future of HOAs includes expansion into: Common-interest developments. Condominiums, retirement homes, timeshares, and other developments all have access to and enjoy the same shared facilities and common areas. These developments are typically governed by an association of individual unit owners instead of an elected board. Mixed-use communities. Residential, commercial, cultural, institutional, and/or entertainment properties all mix and mingle in one space. They tend to be located in urban areas and are ideal for people who prefer to live, work, and play in the same area
First thing wrong is allowing any management company to run your HOA. Homeowners much set on and run their own HOA boards. That way you and your neighbors in your neighborhood run things. You won't be having any $4,000.00 in fines if you run your own HOA. Don't be lazy. Join or create your own HOA board and kick the management company out. Shalom
That's not always possible. Many developers hire management companies for a certain amount of time while communities are being built. Usually five years or 90% completion of the development
@@turtleneckferret In many sub div. the homeowners are just to damn lazy to be on a board. We briefly had a management company in our HOA because no homeowner would take on the job. That ended after 2 years of BS letters and fines from the MC. I served 8 years on our HOA board & 7 as it's Pres. Still even in our Sub Div had lazy people that demanded everything from the board, but they were too damn lazy to ever serve on the board. Shalom
A management company is in addition to, not instead of, the HOA board of directors. A professional management company Is familiar with the laws, and accounting and legal reporting requirements. The management company should provide guidance to the board, but the board makes all decisions and the management company takes direction from them. Unfortunately, many HOA board members do not bother to read and understand the CCRs. I think there should be a legal requirement that board members have a working knowledge of the bylaws and CCRs. In order to qualify as a candidate, they should have to pass a test.
@@genxx2724 If the homeowners are willing to be the HOA board and run things themselves there is no damn need to pay a management company. I served on our HOA board for 8 years & 7 as president. Any homeowner can do this. The problem a lot of people are too damn lazy to be part of a HOA board. Shalom
