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Probably, but are there people who own a bunch of properties in one neighborhood? If they own a majority, isn't that more like a managed community than an actual neighborhood?
In my HOA almost all of the board members own multiple units and they don't even live in our neighborhood. I know one is a realtor, as she sold me my place, and another is just an investor.
They're not always the most pleasant people, but they do an ok job the majority of the time. People seem to hate owning a house but still getting told no on things.
I don't know if they actually vote multiple times, but I think we've had less than a half dozen rule changes in the almost 20 years I've been there.
They have a vested financial interest in making the neighborhood as attractive and successful as the rest of us. While their motivation is purely a financial interest, the petty and self-centered things I've seen my fellow residents try to demand is crazier than anything our board has actually done.
Most of the HOAs in my area are a mix of privately owned homes and rental properties owned by the company that built the neighborhood.
if by people you mean corporations
corporations are almost people anyways, I'm half expecting Trump to make a new 3/5ths compromise where companies can vote.