HOA Bill Targets Collection of Past Dues
LAS VEGAS -- A new bill aims to change the law for homeowner's associations, protecting board members and capping how much collections agencies can charge.
HOA's are non-profit boards made up of volunteers, and the only way they bring in money is from homeowner dues. But with so many people choosing foreclosure, HOA's are losing money.
The Senate Bill would ensure that HOA's get paid dues they are owed when a home or foreclosure is sold.
Most of the 42-page bill is the existing law that regulates HOA's. In testimony at the bill's introduction, supporters spoke along with opponents complaining about their HOA experience.