FAQs
Why are you proposing a Special Meeting to replace the Board? Can't we just vote to repeal or reduce the Special Assessment?
A Special Meeting could be held to vote on repealing or reducing the Special Assessment. However, without a change in membership, the Board could simply reimpose the Special Assessment. Moreover, some degree of Special Assessment will likely be needed to correct the building's longstanding lapses in maintenance and ensure the longevity of our common investment. We do not believe that the final cost should be anywhere near what the Board has levied, but need to be in a position to receive bids and contract for the work in order to determine definitively by how much the Special Assessment can be reduced. Once this is done, we will reduce the Special Assessment accordingly and provide reasonable payment and financing plans, with the goal of ensuring that no Co-Owner loses their property.
I bought after the Special Assessment was levied. My seller's share was already paid out of the sale price. How does this affect me?
We need to make sure that something like this NEVER happens again. For more information on how the Special Assessment has been mishandled, please see the Position Statement tab. For more information on how your HOAs are currently being spent, please see the Spending tab.
I'm a landlord. Can't I just pass the cost of the Special Assessment on to my tenants?
Technically, yes. At the end of your tenants' lease, and not before, you can propose a rent increase to help defray the costs of the Special Assessment. There is no rent control in Virginia. However, if you raise the rent above the market rate for the area, you will likely find that your tenants will relocate rather than renew.
What if I just refuse to pay the Special Assessment?
If you refuse to pay the Special Assessment, the Board will seek legal action against you for payment, potentially culminating in the Board foreclosing on your unit. In addition to your portion of the Assessment, the Board will seek all collection costs, including legal fees.
I can afford to pay my portion of the Special Assessment. How does it affect me if other Co-Owners can't?
If the Board's assessment remains in place and some Co-Owners are unable to pay, this increases the risk of another assessment being imposed to cover any shortages remaining after the Board forecloses on the units of Co-Owners unable to pay.
If we replace the Board, is the plan to discontinue the facade work?
No. The plan is to proceed with all work necessary to preserve our common investment, while minimizing the cost to Co-Owners and ensuring that work is performed correctly.
Are there other opportunities for savings outside of the facade work?
Yes. For more information, please see the Spending tab.