Atlanta CG
Senior Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- Georgia
This may not be the proper location for this topic but it has to do with home values in a neighborhood. It does have to do with my 640 home neighborhood so I'm more involved than I would be. We are an HOA but the board is proposing we change to a POA. In Georgia it was adopted in 1994 to expand the powers of the HOA associations and while similar in many respects the main difference is the POA having more control, I'll call it legal but that may be incorrect. The argument is that we have way too many investors owning and renting homes and it is getting worse. Although generally these investors are maintaining the properties but they are running behind on the dues and the rest of us have to pick that up. Supposedly a POA has more foreclosure powers to force an investor to pay the back dues or foreclose on the property whereas the HOA does not have that power. The counter argument is that if it can be used against the investors, it can be used against us as well. A respected homeowner may fall behind in due due to loss of job, major medical bills, etc, but while a lien can be placed on the home that will have to be paid off when selling under an HOA, maybe a POA will not be as understanding and inform the owner pay up or in two weeks the sheriff will be at your door removing your belongings onto the front lawn as the lien was sold on the courthouse steps.
A bit windy but does anyone have any experience with this?
A bit windy but does anyone have any experience with this?
