Wikipedia describes The Tragedy of the Commons as “a situation in a shared-resource system where individual users acting independently according to their own self-interest behave contrary to the common good of all users by depleting or spoiling that resource through their collective action.” But isn’t that just human nature? Don’t we normally make choices and decisions based on our immediate needs and what benefits us? And isn’t that especially true for people who are generally struggling to make ends meet? Can the current model of HOAs and condos function properly for all?
Tyler Berding joins us On The Commons. Tyler is the principle attorney and founder of Berding-Weil, a California law firm. Tyler represents residential associations and has long been concerned about the lack of adequate reserve funding, construction defects, condo conversions and the flawed HOA and condo model. He is particularly concerned about the buildings as they near the end of their useful lifespans. What happens to the buildings that need to be refurbished? What happens to the owners and their assets? Who pays to make the units habitable if the reserves are inadequate to fund it all? Can retirees on fixed incomes and low income owners afford massive special assessments to cover the shortfall? What Tyler is talking about is the classic “tragedy of the commons”. Tyler shares with us his presentation for a summit next month. Tyler also has a blog called Condo Issues with lots of thought provoking blogs covering all things condo.
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