Investor Central

Welcome to the premier resource for Las Vegas investors looking to generate wealth through real estate. Whether you already own a property and need management help or you need assistance to get started, you have found the right place.

Thursday, May 23, 2013

Higher Dues for Homeowners at Stake in HOA Legislation

If you live in a community with a homeowners' association or have investments in which you pay HOA dues, you should keep yourself updated on the latest legislation that may affect your payment circumstances. Legislature has begun discussing rulings that could result in higher association dues for homeowners. In general, this decision will determine what associations can and cannot do when homeowners stop paying their dues, and furthermore, how much these associations can collect from proceeds the bank will earn once a foreclosed property has been sold.

The major hurdle in this scenario will be the difficulty of satisfying conflicting interets from multiple parties (investors, property management companies, debt collectors, banks, etc.). According to the article, this case may even find its way to the state Supreme Court if opinions are too conflicted. Regardless, it is likely that the final decision will affect HOA dues so we strongly advise Nevada home investors to pay close attention!

Read more at the article linked below:


No comments:

Post a Comment