HOA with Only Two Parties...

[Breanna Green]

Hi BiggerPockets community!

I need help... I own a "condo" in San Diego that has a 2-party HOA, which is bizarre. 50% me and 50% my neighbor. So right off the bat I would question what would happen if we disagree etc. but I'm an out of state owner and just looked the other way until now (my fault I know, I ostriched). I've owned the 3bd/2.5ba one block from the beach for over ten years and have yet to see one official document from my 75 year old former lawyer neighbor who is grouchy and likely exploiting me/engaging in extortion. We each pay $300/month (allegedly) and there is zero upkeep to the property (no pool, landscaping, common area). I have asked numerous times to send me official bank statements, receipts of work completed, master insurance documents, etc. and have received a few emails with word document summaries. There hasn't been any major work done in years, to my knowledge but somehow we are running out of funds. I ended up hiring two lawyers who agree that is unacceptable and yet $2,500 later I'm still at ground zero with them not willing to provide documents or the latest is them asking me for $500 for "copies" - also who knows what the documents would entail after they hired some family lawyer, which was likely paid out of the HOA dues. It's all just very bizarre. I know I can sue but honestly who wants to do that, what a pain but maybe that's what I should do? Or sell? Attempt to eradicate the HOA (not sure that's an option since we share walls). Or hope they move on... soon? (Still doesn't help me with the 2-party HOA).

The property is my cash cow and a great investment, I rent weekly in the summer months and 9 months out of the year to students. It's paid off in full Dec 2026 where I'd make approx $6000/month net. I want to keep the property but also know that this ridiculous HOA isn't going away and even if they move/move on, someone else will just buy it since I can't afford to buy them out right now. I thought about selling within the next year and aiming to find a place with no HOA because I can't handle it anymore. Please help, what do I do? Thank you!!