JanineR (Tennessee)
Posts: 259
Posts: 259
Posted:
Math Question:
One Bedroom HOA monthly fees = $206.80
Two Bedroom HOA monthly fees = $310.20
Short Term units are defined as renting for less than 30 days.
The amendment to Bylaws adding in STR's say this:
"The rate of assessments for each Short Term Unit shall initially be established at one and one half ( 1.5%) times the rate applicable to two bedroom units . This ratio of assessments between short term units and two bedroom Units may be adjusted as determined from time to time by the Board of Directors of the Association . Assessments totaling twelve ( 12 ) months
for each Short Term Unit must be paid in lump sum at the time of registration and are nonrefundable regardless of the Owners intent to cease short term rental."
Given the above riddle,
How much should the initial annual assessment for short term units be for a:
* one bedroom unit?
* two bedroom unit?
One Bedroom HOA monthly fees = $206.80
Two Bedroom HOA monthly fees = $310.20
Short Term units are defined as renting for less than 30 days.
The amendment to Bylaws adding in STR's say this:
"The rate of assessments for each Short Term Unit shall initially be established at one and one half ( 1.5%) times the rate applicable to two bedroom units . This ratio of assessments between short term units and two bedroom Units may be adjusted as determined from time to time by the Board of Directors of the Association . Assessments totaling twelve ( 12 ) months
for each Short Term Unit must be paid in lump sum at the time of registration and are nonrefundable regardless of the Owners intent to cease short term rental."
Given the above riddle,
How much should the initial annual assessment for short term units be for a:
* one bedroom unit?
* two bedroom unit?