I live in a 20 year old HOA maintained townhouse development. The roofs are due to be replaced next year. The HOA does not have enough funds in the reserves to cover this.
As luck would have it we had a hail storm that cause damage to the roofs. The HOA file the claim with the HOA's insurance. Because the deductible is quite high (over the years the deductible has gradually been increased to save money) all unit owners are being assessed a lump sum of $6,000 to repair the roofs. My individual policy will cover this, but there is a 500 dollar deductible.
The management company/HOA sent a letter stating that if we paid in full before the due date and provided proof of the deductible, they would refund the $500.
I have decided not to accept a refund. I am concerned this practice is not entirely legit.
Should I be concerned?
Minnesota
Answers (6)
What are your thoughts on this topic? Please share your answers below. We ask that you remain respectful of each other, and be advised that responses are monitored.
