Annual dues

Started by KennyD1 • 4 replies • 1233 views

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KennyD1 (Texas)
Posts: 51

Posted:

We are a niegborhood of 134 homes with no parks, pools, or community clubhouse. All we pay for is our property management company and landscaping that cost the assicoation $1000.00 a month to mantaine our front area of our nieghborhood comman area. Our annule dues is $250.00 a year. Which leave us with $33,500.00 if everyone is paying like they should. What does your association pay and how many homes do you have in your niegborhood?

JoeW1 (New York)
Posts: 728

Posted:

KennyD1 - Annual dues per owner of $250.00 per year is $20.83 per month. Where is the other $13.37 allocated in your annual budget? If $1,000.00 is all you pay a month than it seems you have apprx. $21,500.00 in excess income???

hoatalk (California)
Posts: 603

Posted:

You will find a huge discussion topic on this subject here call, "Your Monthly dues..... how much do you pay??" .

You can find it at:
http://www.hoatalk.com/Forum/tabid/55/forumid/1/view/topic/postid/12780/Default.aspx

Copy that address and paste into your browser address window.

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JamesC (Maryland)
Posts: 282

Posted:

Posted By JoeW1 on 07/31/2007 5:14 AM
KennyD1 - Annual dues per owner of $250.00 per year is $20.83 per month. Where is the other $13.37 allocated in your annual budget? If $1,000.00 is all you pay a month than it seems you have apprx. $21,500.00 in excess income

Joe: $21,500.00 ( Called RESERVES???????????)

KennyD1

We have 167 homes in our community in Maryland and we pay $60.00 per month.$720.00 per year. No pool, no golf course, no club house, we even rent space from a church each month
to hold our board meetings.
$10,000.00 a year for snow removal, $10,000.00 a year for lawn maintenance, we pay the communities water bill (for all homes) trash pick-up (private community), and we have only $90,000.00 in reserves.
Make sure you have, and keep a very healthy reserve.
Take the advice of HOAtalk.com. There is valuable information on the site they recommended.
Good luck:

Jim

JoeW1 (New York)
Posts: 728

Posted:

Jim - Who are you speaking for when you refer to reserves (all caps mind you)? My question was to KennyD1. If the answer is reserves that's fine, actually good, but just wanted an answer from KennyD1.

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