Question for the group:
I have a couple houses in a community of about 30 four-plex properties (120 units total, C+ grade, ~$700/unit), each individually owned, and governed by an HOA. It's not gated, but there is only one way in or out, and butts up against a large city park. The community used to have a pool, but that proved too hard to maintain, and always ended up with patio furniture and trash in the water, so the HOA voted to rip out the pool and just sod the land. Currently there aren't any common areas in the community, and the nearest playground equipment is about 1/2 mile away. There are a decent number of kids in the neighborhood, and I think a playground would be a considerable draw for future tenants, and incentive for current tenants to stay. However, I would need to convince the HOA to agree to fund the bill. Does anyone have a story to tell about putting in commercial playgrounds? Ballpark estimate I came across were about $15-20k for the equipment, and about the same for installation and preparing the area.
Does anyone have any great techniques or salesmanship methods used to convince an HOA that a community facility would be worth the cost or temporary increase in HOA dues?
Any other considerations that I'm not thinking of? I know that there would be a liability issue with the equipment, but I can't think it would be any more than a pool. Would the playground affect insurance rates for the HOA?
HOA would be crazy to put in play ground equipment. Liability risk is far too high and adds nothing to the bottom line.
No way they want higher insurance premiums.
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