LATEST ANNOUNCEMENT
Did you know?
Your Community Voices Finance Team found a significant, non-disputable mistake in the 2024 Reserve Study approved by the HOA Finance Committee and Board of Directors.
The Reserve Study starting reserve balance at 8/31/24 was overstated by $544k or 35%. By the end of 2024, the discrepancy grows to $596k or 36%. We questioned the discrepancy in the annual Q & A’s and successfully got the HOA to acknowledge the mistake.
As a result, the Reserve Study will be corrected and re-posted on Town Square.
Why does this matter?
The Reserve Study states the reserve balances were used to create the reserve funding plan. Inaccurate reserve balances could lead to the need for future capital calls on our residents.
We appreciate the HOA’s willingness to admit to the mistake and agreement to correct the Reserve Study. We will review the 2024 reserve balances in the revised Reserve Study for accuracy on behalf of our residents.
Contributor:
Cynthia Rice - Homeowner
John Lisee - Homeowner
*****************************
2/6/2025
SC DEPARTMENT OF CONSUMER AFFAIRS NEWS FROM SCDCA
South Carolina Department of Consumer Affairs Carri Grube Lybarker; Administrator and Consumer Advocate
February 4, 2025 | Release #25-02
Media Contact:
Scott Cooke, (803) 734-4296
2025 Homeowners Association Complaint Report Released
COLUMBIA, S.C. - The South Carolina Department of Consumer Affairs (SCDCA) is releasing the 2025 Homeowners Association (HOA) Complaint Report. The Report is a compilation of data from complaints received January 1, 2024, through December 31, 2024. Some of the highlights include:
- The 2025 report contains information from 434 complaints filed against 325
HOA/Management Companies during calendar year 2024. This was a nineteen percent increase in the total number of complaints included in the HOA
Report as compared to 2023. - The complaints raised 846 concerns with multiple included in a single complaint. This is an increase of fourteen percent over 2023. The top three types of issues raised were: (1) Failure to adhere to and/or enforce covenants and bylaws (17.3%), (2) Concerns regarding maintenance and repairs (15.1%),
- Top 3 Counties for Complaints: (1) Horry (27%), (2) Richland (13.4%), (3)
Charleston (7.8%). - The number of complaints closed as "Unsatisfied" due to a business's failure to respond increased nearly five percent in 2024 to (9.7%). This is primarily due to one HOA not responding to 18 complaints.
The report is presented in a categorized, filterable and searchable format and can be viewed in its entirety by visiting this link.
https://consumer.sc.gov/consumer-resources/consumer-complaints
SCDCA is also releasing an additional HOA Seven-Year Complaint Report of the HOA complaint data received from June 1, 2018 through December 31, 2024. The HOA Seven-Year Complaint Report covers general complaint data and information from the HOA supplemental questionnaire, shows any trends that have developed over the last seven years and maps the complaints per county.
SCDCA will offer a free webinar "2025 HOA Complaint Report" on Wednesday, February 5 at 10:30 a.m. The webinar will go over the complaint report, the types of complaints received, complaint trends and the department's role in collecting complaint data. Register here to watch/listen from any computer or smartphone.
SCDCA processes and mediates consumer complaints against businesses regulated by
DCA, refers complaints that fall within another agency's jurisdiction and mediates those complaints against businesses that are unregulated. To file a complaint, visit our website and click "How Do I..." then the "File a Complaint?" option.
About SCDCA Established in 1974, SCDCA has fifty years of experience in protecting South Carolina consumers while recognizing those businesses that act honestly and fairly. Cultivating a marketplace comprised of well-informed consumers and businesses prevents deceptive and unfair business practices, allows legitimate business activity to flourish, resulting in the promotion of competition and a healthier economy.
*****************************
1/22/2025
Preamble
Four Seasons of the Lakes of Cane Bay is a 55+ retirement community with great amenities and friendly residents. Many appreciate the management of events and classes. While the community offers excellent opportunities, long-term residents have noticed a decline in addressing issues regarding the upkeep and care of the community by the Association that affect their quality of life.
We anticipated that this new, more comprehensive Reserve Study, conducted five years after the initial study, would provide an objective assessment of our situation. In many respects, this has proven to be accurate. However, there are multiple issues that necessitate thoughtful and transparent responses from KHOV and its HOA.
The following questions stem from our collective experiences and a perceived lack of transparency from KHOV, its Board of Directors, and its management entity, Associa.
These inquiries have answers that should be readily available to the community and its customers following some research. This process incurs costs for the developer or builder, due in part to the necessity of having responsible parties such as site contractors, past managers, and County representatives inspect and verify the completed work.
The intent of our questions is to ensure strict adherence to approved plans and specifications during the design, construction, and execution phases. If these standards are met, the transition from KHOV to the community will be seamless and positive, as it should be. Ultimately, we aim to enjoy the community promised to us, executed and managed efficiently.
In this context, we present these observations, legitimate and well-researched questions, along with the concerns of the residents, with the expectation that our community aligns with the standards established by the Founder of K. Hovnanian® Homes, Mr. Kevork Hovnanian.
Prepared by:
Tim Traynor - Homeowner
John Battaglia - Homeowner
Scroll down or go to File Manager to view and/or download the questions submitted by friends and neighbors living in our Community for the 2025 Annual Town Hall.
Note: there are three 2025 Annual Meeting Question documents.
1. General/Administration
2. Budget/Reserve Study – Finance
3. Reserve Study – Infrastructure
*****************************
Note from the WEBMASTER:
Information under the header Latest Announcement will be move to the appropriate content header or remove after a few weeks.