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re: Advice on starting a road maintenance fund?
Posted on 7/23/14 at 6:27 am to SmellslikeKevinBacon
Posted on 7/23/14 at 6:27 am to SmellslikeKevinBacon
Set up an HOA and appoint a petty dictator to run it. He will annoy the hell out of everyone but everything will be maintained. And your window shades *will* be the proper color also.
Posted on 7/23/14 at 8:52 am to foshizzle
quote:
Set up an HOA
While you certainly don't need to set up an HOA, you can borrow the idea of "monthly dues" from the HOA model. $2K is a big chunk of change at once for many households...so figure it as a one-time maintenance fee and split it into monthly installments for anyone who can't/won't write the whole check at once. Make 'em sign a promissory note as well.
Unless this $8K expense is expected to be an annual one, you don't want to bother with setting up a maintenance account. It sounds like you've already appointed yourself as project steward, so now you're going to have to collect the funds.
BUT, be prepared for others to give input into how their money is spent. One may want to give the job to his brother in law, another may want different size/color gravel. If they're ponying up equal shares, then they should have equal say in how the job is done. Which brings up the issue of how the costs are shared: does the guy who lives at the front of the road have to pay an equal amount as the guy who lives at the end? Doesn't seem fair to me.
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