Tio Junior
Posts:172
 | | 05/27/2008 5:06 PM |
 Alert | To me, the bottom line is we either pick up a little slack individually or WE are going to have to pay for it anyway because the HOA funds are OUR funds.
How much would the HOA have to pay a company to drive out to Maricopa to clean a freaking mailbox? I bet it wouldn't be cheap and it would take 1-2 months to get completed. Or if a mailbox is dirty and I would like it cleaned, I could bring some soap and a wet rag the next time I pick up my mail and take 5 minutes and clean it for FREE and I don't have to be irritated for the 1-2 months it takes to get a vendor out here to clean it. Plus, the HOA didn't have to pay a ridiculous amount of money for someone to drive out from Chandler to clean it.
With as many people in this neighborhood not paying their $62/mo - the HOA will go broke paying for stupid things like this. I didn't see a mailbox cleaning portion of our $62/mo in alanf's breakdown of our HOA fee. I also don't see a fee for cleaning up weeds for lazy homeowners or a fee for outrageous legal fee's to try and collect $ from the delinquent buyers! These are all extra expenses that weren't taken into consideration when our $62/mo was bid out. You add in the 400 people not paying dues and the financial situation looks like ENRON unless the HOA spends the money that is coming in extremely wisely.
You all have the right to the financial information - e-mail Kriss at krissl@ogdenre.com and get up to speed on where your money is going. Can you think of ways to save money? Let the HOA board know your thoughts.
Or you can just e-mail Kriss to clean the mailbox. | | | |
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Smokin Ace
Posts:246
| | 05/28/2008 1:43 PM |
Alert | | Ok well if we are using a collections agency to get the fees they 99% of the time work on the basis they keep a percentage of what they are able to collect. So do you know what large fees we are paying out for legal I am a bit lost. Thanks | |
Power tends to corrupt and absolute power corrupts absolutely. ~Lord Acton | |
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Tio Junior
Posts:172
| | 05/28/2008 1:56 PM |
Alert | January - $6,648
February - $1,483
March - $6,795
April - $4,634
Oh, did I mention we budget $200/mo for this expense? | | | |
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Smokin Ace
Posts:246
| | 05/28/2008 2:08 PM |
Alert | Posted By Tio Junior on 05/28/2008 1:56 PM
January - $6,648
February - $1,483
March - $6,795
April - $4,634
Oh, did I mention we budget $200/mo for this expense?
So again I ask the question of why? Are we not using a collections agency? If we are using a Attorney I question why. I think those who we know we can get money from should get a attorney but those who have never paid and never will a collections agency is about the best way to go. Otherwise you through money down the tube paying a attorney to try to get blood from a stone. Just my thoughts.
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Power tends to corrupt and absolute power corrupts absolutely. ~Lord Acton | |
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Tio Junior
Posts:172
| | 05/28/2008 2:21 PM |
Alert |
| We use Lighthouse Legal Services LLC - call Ogden and ask Kriss why we use them. I don't have the answer for you. | | | |
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Smokin Ace
Posts:246
| | 05/28/2008 2:42 PM |
Alert | | Thanks for the info. I can call but the call never gets returned. I think this item should make the meeting agenda and be talked about. They fees seem really high when we could like I said turn the people over to a collections agency cheaper. Other thoughts? | |
Power tends to corrupt and absolute power corrupts absolutely. ~Lord Acton | |
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Tio Junior
Posts:172
| | 05/28/2008 3:26 PM |
Alert | There are definitely different ways to approach collecting delinquent fee's. Some legal firms only charge the HOA a fee if they collect the outstanding debt - which would really cut down on costs.
Like you said, the HOA needs to figure out which people will actually pay and which ones are foreclosing or are already bank owned to see if it is worth spending the legal fee's on it. You would figure the more money we spend in legal fee's the more money the HOA would collect - yet the amount collected doesn't seem anymore? I don't get it and question why spend the money if it isn't worth it?
If we spent $6K/mo on legal fee's and recovered $7K in payments, then I would say it's working, but that's not the case. | | | |
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Smokin Ace
Posts:246
| | 05/29/2008 10:47 AM |
Alert | So again I must ask the questions.... How do we get a answer to this or get it changed? Seems we are paying Ogden to manager our money and they like to spend it not so wisely. If they were my finacial advisor I would be broke LOL. | |
Power tends to corrupt and absolute power corrupts absolutely. ~Lord Acton | |
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Reagan
Posts:737
| | 05/30/2008 6:18 PM |
Alert | | I will give Ogden credit on the finances for the most part. They have managed it rather well. As we do have good money on reserve, unlike what I have heard about a lot of HOA's in this city. Although I do think we can do better on some of our decisions. With our new board I think it will all come into place soon. | |
Welfare's purpose should be to eliminate, as far as possible, the need for its own existence.
Reagan, Los Angeles Times, January 7, 1970 | |
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wifimoocher
Posts:60
| | 05/30/2008 7:07 PM |
Alert | well i too am interested in why we had 6k in legal fees in one month.
1, i like the fact that ogden keeps track of who is not paying
2, is there a way we can talk about this in our next meeting without getting the question swept under the rug like other questions at the last meeting.
3, i'm glad they are manageing our money well but as Tio Junior pointed out our budget is $200 and we are going over that.
my question would be how much money has the 19k in legal fees over 4 months brought in and would an agency or combo of the 2 be cheaper. | |
Money isn't everything.
Everyone just thinks it is... | |
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reagdog
Posts:98
| | 06/01/2008 11:33 AM |
Alert | | The HOA board is looking into ways to save money on a monthly basis. Our reserves are healthy, but we need to make sure they stay healthy and aren't depleted. Hopefully we can get the cafeteria at Pima Butte for a longer period of time to make sure everyone gets all of their questions answered. I think that is very important. | | | |
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wifimoocher
Posts:60
| | 06/01/2008 12:21 PM |
Alert | longer time to hear out everyone's throughts would be GRRREAAT!
and thanks again reagdog | |
Money isn't everything.
Everyone just thinks it is... | |
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Smokin Ace
Posts:246
| | 06/02/2008 9:42 AM |
Alert | | Reagdog are you looking into getting a longer time limit? | |
Power tends to corrupt and absolute power corrupts absolutely. ~Lord Acton | |
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