You may think that your HOA’s greatest liability is your swimming pool but, you are wrong. It’s not your sign at your entrance, although expensive. It’s what everyone thinks will take care of itself. It’s your retention pond or lake.
Retention ponds and lakes need monthly prevention and planning. And your pond or lake needs to be the highest priority of your HOA’s budget. And here is why…
A small retention pond can cost over $30,000 to remove sedimentation every 10-15 years after it is only 50 percent full. A small 5 acre lake can easily cost an HOA or neighborhood $175,000 to remove sedimentation every 20 years after it is just 50 percent full.
For example if you HOA has 100 homes and your dues are only $250 a year. Your HOA should be budgeting over $8750 or 35 percent of your budget for your lake. Or $3000 & 12 percent for your small pond each year. If not, costly assessments of $300 or $1750 per home will be the only option for the HOA to stay in compliance with laws or face $1000 per day fines & court.
No. We are not trying to use scare tactics. But we are presenting the reality not seen by countless HOA’s & homeowners in Upstate South Carolina.
A Home Owners Association also needs to be aware of more than the costs of sedimentation removal. Often on a yearly basis your retention pond or lake will be inspected by Greenville County.
Potential County inspections or violations include:
- Blocked Drain Pipes or Culverts
- Levy Mowing & Integrity
- Levy Tree Cutting
- Siphon & Stand Pipe Blockages & Efficiency
- Sedimentation Removal
A small siphon system that may only cost $6000 but replacement of stand pipe could cost over $60,000. A poorly maintained levy, like at Oak Grove Lake in Greenville County could cost $150k-$250k to fix and replace.
You can quickly see how a retention pond or lake that is ignored is destined for failure.
Platinum Lake Management specializes in helping prevent and plan for retention pond and lake issues before they happen. We work with HOA’s to create a custom plan for your pond or lake. Starting with a pond or lake assessment, they are able to evaluate current conditions and outline a custom 5, 10, & 15 year plan for your HOA pond or lake.
Included in the assessment is a quote for a monthly management plan to begin the process of implementing these goals, reducing the need for sedimentation removal, insuring that it functions properly & your pond or lake is beautiful year round.
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