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Tax, SDIRAs & Cost Segregation

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Nancy Lucia
  • Investor
  • Orange County, CA
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HOA Pipe Failures

Nancy Lucia
  • Investor
  • Orange County, CA
Posted Feb 29 2016, 08:48

I have rental that is a condo in a complex of 300 + units. The property was built in the early 90's. The copper pipes in the walls and the slab have had many pinhole leaks that seem to be occurring because of the age of the pipes. I have had seven incidents and I am aware that other homeowners have had numerous leaks as well. At the last board meeting they said that every building has been affected, and that they were obtaining bids to re-pipe the entire complex. In the meantime the repairs are being paid by the HOA (to repair the section of pipe only that leaked) and the dry out, which has depleted the HOA reserves. The board admitted that they have been working on it for over a year. They have gotten bids but no action has been taken because they say there are no funds to pay for the re pipe. Obviously they need to create a special assessment situation. This has been going on too long and I feel the board is not taking action quickly enough.

I would like to speak with an attorney that would be willing to take the matter on contingency and determine if there is some action that can be taken on behalf of me and the other homeowners experiencing this problem to resolve these issues.

Thank you.

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