Our family owns a small 3 bed 2.5 bathroom condo in Aurora CO.
We recently got charged by our HOA for roof repair from hail damage and it was $14,416. It really seemed expensive to repair small 1,450 ft condo. It is a norm for HOA to charge roof repairs? And does roof repair cost this much in my area?
Any input would be appreciated. Thank you in advanced!!
That sounds really high, depending on the extent of the damage.
The HOA should provide documentation for what the damage was and who they got to do the work.
Is your unit standalone or part of a building? Also have you contacted any of your neighbors to see what their portion of the bill was?
I'd recommend calling a couple roofing companies to see what the going rate is in your area, also ask whoever is on the board for the HOA how many companies they had bid the repair project before they started work.
That sounds really high, depending on the extent of the damage.
The HOA should provide documentation for what the damage was and who they got to do the work.
Is your unit standalone or part of a building? Also have you contacted any of your neighbors to see what their portion of the bill was?
I'd recommend calling a couple roofing companies to see what the going rate is in your area, also ask whoever is on the board for the HOA how many companies they had bid the repair project before they started work.
Yes, it happened to me. I bought a condo rental, when I had it for two years, developed a roof problem caused to roof to be entirely replaced. And because it was classified as historic, the roof must conform to expensive requirements totaling over $1 million dollars, with each condo owner assessed over $10K. There were 104 units in the building. I bought it at an auction, a $125K unit at $40K, so I didn't quarrel with it. I heard later the HOA somehow got a loan, and spread the costs to condo fees, but what kind of loan, I didn't know as I sold it a few years later for over $100K.
Did the HOA explain the costs or did anyone demanded an explanation?
It should be the HOA's roof. So you shouldn't be paying for it. You could be charged an assessment (a percent of the total repair cost divided by number of units…)
I have a unit that’s part of a 6 unit complex in MN. They avoided hail for 20 years and we had to finally replace the roof because of age. I think it was around $9-10k for a 2 story 2200sf townhome about 3 years ago. Last year the ground level patios and privacy walls were $19k per unit, made the roofs seem like a deal.
In regards to insurance, I’m pretty sure most small hoa’s carry a $25k deductible and then you should have a $25k policy that covers your portion of the deductible. If your insurance guy/gal was one the ball you might have it? Then you could push for the insurance claim.
Sung, I do believe you meant to say roof "replacement" not repairs, correct!?
No one is going to have a complete answer for you because, they/we don't have all the details! The HOA's and what they cover/don't cover is all in the details of that property and what is said in writing. As each property, city, state is different ... NO one knows that "your" hoa covers, the percentages, etc!
We work with a few HOA's that do cover the roof "maintenance." If/when a hail or storm event comes, it is structured that yes the majority of that cost gets passed on to the owners. Mostly because, the Deductable % is so high, even with a Claim for hail, they still don't get anything or get very little from the ins company! ("Roof" coverage is different than other aspects of the policy) But again, no one has any idea of how that is arranged, so you may need to ask/find that part out too.
ALSO, you never said what kind of roof or covering it has! If it's all metal, that may explain the higher $ you stated. If shingles, then yes ... it sounds very high. But again ALSO (lol), if you have 3+ story units, with 12/12+ pitched roofs, could also explain the High $ you stated.
Most HOA's get 2-3 quotes for these bigger jobs. It should be full disclosure, so ask for the details and find out what's going on. Those of us here online try to help, but without all the exact specifics, we all can only talk in generalities!