Increased HOA fees in GA

Started by SherS • 2 replies • 1399 views

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SherS (Georgia)
Posts: 1

Posted:

Hello, I live in GA. Our community has a lot of foreclosed units and to make up for non paying HOA fees, our HOA has continually increased the monthly fees and required us to pay a one time assessment of $200 in 2009. When I moved in 2 years ago, I was also charged a $450 reserve fee. I was told this would be used in case of emergencies. Since I moved in, our HOA montly fees went from $177 to $227 plus the one time assessment fee has become a yearly assessment. In total I have paid $6232 in two years, my condo is valued at $60,000. Also, I recently received a letter that the 2011 $200 assessment would be due in July. I was just wondering if there is anything I can do to fight these increases and assessments that was suppose to be a one time fee. I have never been delinquent in my payments, but I just feel that the fees keep coming. Any help or info would be greatly appreciated.

JonD1
Posts: 2,350

Posted:

Sher:

While I understand your concerns I would ask what would you like the property to do when money is needed to pay for the services used on your property? Are there any areas where cost could be cut or services reduced. Most properties will need to provide the basic services which by themselves might use up the majority of funds paid by the unit owners.

Foreclosures may cause a short fall in the income of your property but those bills still need to be paid. While not fair what other options could be considered.

If the property fails to provide services or do maintenance I would guess your unit's value might decline.

Your property like many others seems to be suffering from the decline in the housing market and the drop in home prices.

There is no simple solution. But I would suggest to you those managing your property might have few if any options.

When fees are increased or assessments charged those serving on the Board would be paying those increases too.

JonD1
Posts: 2,350

Posted:

http://www.thecalifornian.com/article/20101217/LIFESTYLE/12170337/Perkins-Theses-are-tough-times-for-homeowner-associations

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