‘Is this even legal?'… ‘Yep': Tenant's HOA fees jump from $700 to an outrages $1,600 per month, so do you blame insurance companies or the HOA?
The housing market is insane right now, that's pretty common knowledge at this point. But have you dived into the property insurance crisis? (Feels like everything is in crisis mode these days…) Turns out it's not just the price to purchase a house that has been disgustingly inflated, but also the price to keep and maintain your home. I mean, with the price of gas and eggs these days, are you even surprised that something as money hungry as insurance companies have raised their prices?
One tenant came to Reddit to seek helpful advice on what to do with a price hike in his HOA dues? It went from an already expensive $700 to an outrages $1,600 per month. Apparently, the HOA did not give anybody a heads up, they just told them it had to be done. They elaborated and said that they lost their original insurance plan and had to piece together a more expensive one from multiple providers. Sounds shady, yet also believable. What do you think? Reddit seems to be split on who to blame—is this the fault of the HOA board or the insurance company? Read below and decide for yourself.
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