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Updated over 5 years ago on . Most recent reply
HOA on multifamily. How do i set this up?
I have a a property that has several SFH that share a driveway. I need to set up an HOA to manage the easement on the driveway (snow removal, maybe landscaping). Any ideas on how to accomplish this or do I hire somebody to do it all.
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- Real Estate Broker
- Cody, WY
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I don't think you understand what is required. An HOA is a formal organization that has to be set up and registered with the state. It would likely require an attorney, drafting documents, registering with the state, establishing a board, etc.
It would be much easier to simply create an agreement with your tenants on who shovels and when. Even easier? Hire a snow removal service and then increase the rent on each unit to cover the cost. If you find a private individual or small company, they would probably be willing to negotiate a flat monthly rate rather than charge you for each snow event.
- Nathan Gesner
