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Those in a town home development - how large is your assessment and what amenities do you have?

Started by TimB4 • 7 replies • 456 views

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TimB4 (Tennessee)
Posts: 21,061
Posted:
Quote:
Posted By PaulH26 on 12/31/2022 1:43 PM
My wife and I live in a medium sized complex, 90 or so units, with a pool and no other amenities other that green space left after the tennis courts were removed many years ago. It's a townhome community with 2-car detached garages. Our HOA fee was recently increased to $345, which has increased yearly from $285 in the last two years. Water, sewer, trash, etc. are included in the fee, but is there anyone on this forum that has a HOA fee this large for so few amenities? Curious...

TimB4 (Tennessee)
Posts: 21,061
Posted:
Paul,

I lived in a town home development with 130 units. No garages. 2 playgrounds, one bus stop and (as with most town home developments) private roads. Services included weekly trash/recycling pick-up (in addition to the normal common green area lawn maintenance).

Each member was fully responsible for everything on their town home to include fences, roofs, gutters, etc.

Our Assessment, which also fully funded the reserves, was about $100 per month (likely a little more now).

With that said, we were self managed so did not have to pay for a management company.

It's difficult to compare Associations to Associations. It's almost like comparing apples to oranges.
Size (how many to share the cost), services, responsibilities of the Association, common amenities and management costs vary from Association to Association.
Geographic area also plays into it.

The best that could be done would be to ask to review your Associations finances or simply the budget to see how the funds are being spent.
TimB4 (Tennessee)
Posts: 21,061
Posted:
Note: Paul is from Colorado and had his question in another thread, where it may have been lost.
JohnT38 (South Carolina)
Posts: 1,631
Posted:
Are the roads private? If so, do you know how much you have in Reserves?
SheliaH (Indiana)
Posts: 6,964
Posted:
We have a clubhouse and the association is responsible for one street, all the sidewalks , 5 park8ng lots, landscaping. (we have lots of trees) and the "skeleton" of the buildings (roofing, brick fronts, vinyl siding, utility lines from when they leave the unit,etc) We're approaching $200 a month in assessments, but that's really low considering the age of our community (50 years). We've had major problems with delinquencies, which is one reason why we git rid if our pool. Unfortunately, that's hurt our reserves in a big way and so we'll be facing increases at the maximum level every year for now on.

Amenities aren't the only things you worry about in communities like ours. You don't say how old your community is, but I suspect your commuity may also have an issue with underfunded reserves and now tge board is trying to catch up. Master insurance for HOAS has jumped up a lot and the Surfside disaster didn't help. Add the inflation rate,, which varies from your community to mine and everything in between, and you now understand why the assessments are so high.

Oh, and don't forget increasing labor costs that prompt your contractors to increase their rates,changes in building codes which may increase the costs of your roof replacement when the time comes. And so aon and so on....
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
KerryL1 (California)
Posts: 14,550
Posted:
Do, as time suggests, review your financials. there might be more operating expenses than you think. Snow removal? What about insurance? Are, for example, the detached garages common area for which your assn. is responsible to insure? This operating expense has increased a lot this year. Heat for the pool?

And if common area, or limited use common area, those garages or perhaps their roofs must be saved for in your reserves? many aspects of a pool are reserve items too like pumps & motors, its surfaces, the deck area, the fences around it. Is there a dressing room with toilets/showers?

Others mention Rodas, which also often must have street lighting. Is there lighting or fencing around your green areas? an "entry monument?" Mailbox clusters?
MelissaP1 (Alabama)
Posts: 13,836
Posted:
It is about the expenses of the HOA that determines the assessments/dues one pays. Whatever bills the HOA has to meet every month/year is divided by the number of owners/members. (Some do it by space owned). Your mileage may vary.

We had insurance, clubhouse/pool maintenance, landscaping, accounting, and various other operational costs. All that was divided by 107 owners. That had us paying roughly $50 a month. Depending on what the HOA owns/maintains will then be divided on how your assessments will be collected. Sometimes there are special assessments when the regular ones can't afford any special projects.

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