Vote No on HB 2430 in Tennessee, Urgent

Below is an urgent letter I wrote to State Representatives Beth Harwell and Mike Turner:

Representatives Harwell and Turner,

I am writing to voice my concern about HB 2430 that threatens homeowners and homeowners associations (HOA) by exempting municipal, county and state governments from the obligation to pay association fees and assessments any time these government entities acquire property through a delinquent tax sale.

As you know, more than 40% of all properties in the greater Nashville area are governed by homeowner associations and this legislation irrevocably harms every last one of those homes and condos. A vote to pass HB 2430 is a vote against homeownership and the very underpinnings of our economy. Should HB 2430 pass it would:

• Make remaining homeowners responsible for the deficit caused by the government exemption;
• Make it difficult for HOAs to budget for maintenance and expenses due to the unpredictable liability caused by this government exemption;
• Make it difficult to finance and sell properties governed by HOAs because of the potential HOA deficits;
• Cause more homeowners to default on mortgages because of added expenses that should not be their responsibility; and
• Inevitably, this would lead to further distress in the Nashville real estate market during a time of timid recovery.

No other state in the United States gives local governments this exemption from HOA fees and assessments. Tennessee should not be the first. Please oppose HB 2430 on Wednesday, February 29.

Sincerely,

Grant Hammond, Broker, ABR, SFR, ePRO

How to Take Action

It is imperative that our legislators hear from homeowners and industry professionals. If you are so inclined, please contact members of the House, State and Local Government Committee and ask them to OPPOSE HB 2430 on February 29, 2012.