TomE4 (South Carolina)
Posts: 26
Posts: 26
Posted:
If you live in a mixed community of single-family homes and townhomes,
I'd like to hear how your board handles the assessments for each.
In our neighborhood, in addition to the single-family homes, we have three
separate townhome sections. Of these three townhomes sections, only one of
them has a maintenance contract/document that talks about the reserves for townhome maintenance. The townhomes pay much more than the single family homes, but that's
because their dues are supposed to be put aside for things such as roof repair/replacement, siding, painting, etc.
In your neighborhood, is there any legal document that clearly states how much
of a townhomes' dues go into the "general fund" (e.g. storm water repair and common area upkeep) and how much go into a separate account that should only be used to maintain
the townhomes themselves? Do your townhomes have separate reserves that are put aside
specifically for townhome use (for repairs)?
Thanks,
Tom
I'd like to hear how your board handles the assessments for each.
In our neighborhood, in addition to the single-family homes, we have three
separate townhome sections. Of these three townhomes sections, only one of
them has a maintenance contract/document that talks about the reserves for townhome maintenance. The townhomes pay much more than the single family homes, but that's
because their dues are supposed to be put aside for things such as roof repair/replacement, siding, painting, etc.
In your neighborhood, is there any legal document that clearly states how much
of a townhomes' dues go into the "general fund" (e.g. storm water repair and common area upkeep) and how much go into a separate account that should only be used to maintain
the townhomes themselves? Do your townhomes have separate reserves that are put aside
specifically for townhome use (for repairs)?
Thanks,
Tom