Quote:
Posted By JohnC46 on 09/08/2015 11:01 AM
Usually the only time many will participate is when they are upset about something otherwise they let others run things. For your next whatever meeting put something on the agenda like: Dues increase discussion. That will bring them out.
Funny you should mention that JohnC46.
We publish extremely detailed annual financial reports, containing every dollar in and every dollar out. They are updated at the end of each month, and distributed to all of our 31 owners at the end of each quarter.
Our BOD had a private meeting in May 2015 to discuss our financial situation, including our dramatically increasing repair and landscape costs combined with our massively underfunded Reserve Fund; and we decided at that meeting that because we can not cut any further any of the very few services that we do provide, nor have we ever been able to find lower contractor costs for any of those services - that because of all of that we must increase our monthly dues on 1/1/16 by $25 per month to $150 per month, to rebuild our Reserve Fund, which has fallen from $50K to $30K since 1/1/13. We raised our monthly dues from $100 to $125 on 1/1/15.
By email in July we announced the increase scheduled for 1/1/16, with a detailed explanation as to why it is needed. Of course the owners are not pleased with these back-to-back increases -- but only just one of our 31 owners has complained about it to the BOD. We plan to send out a reminder of the coming increase on 10/1/15, and we'll include the YTD 2015 financial report, as well as an even more detailed explanation as to why our dues are increasing again.
So no JohnC46, not even increasing our dues got a response from our owners -- but maybe it will be enough for sometime to finally step forward and replace me as President after nine years. I can hope!