Years of Notice for Special Assessment

SusanO3 (California)
Posts: 163

Posted:

Hi: 95 town homes, N. CA, concrete roofs need underlay replaced on 2033 (well past it's sell by date). Owners that attended the 2025 Annual Meeting were told to expect dues increases every year and Special Assessment nearer the time. This is all laid out in the Reserve Study, but who looks at them!!

I would like to repeat the news at every meeting. However, is this too much notice? Is it too much gloom and doom. How can the Board not mention it often?

Wisdom of others, much appreciated. TIA, Sue

SheliaH (Indiana)
Posts: 6,964

Posted:

Make the information available and leave it at that. If they were paying attention, they already know what's happening and why.

For those who still don't get it, post the reserve study on tge community website in a members only section, as well as the monthly income-expense reports. Encourage suggestions on conserving costs.

I live in a townhouse community and are in the same boat (no special assessments- yet) and our president announced 3 or 4 years ago that assessments would increase at the maximum level (5%, which isn't much) every year in the foreseeable future. We had our reserve specialist explain the numbers and although I'm sure some people were and still are pissed, what can they do - everything's going up?!

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

ElleN (Idaho)
Posts: 1,334

Posted:

Quote:

Posted By SusanO3 on 05/16/2025 2:47 PM
Hi: 95 town homes, N. CA, concrete roofs need underlay replaced on 2033 (well past it's sell by date). Owners that attended the 2025 Annual Meeting were told to expect dues increases every year and Special Assessment nearer the time. This is all laid out in the Reserve Study, but who looks at them!!

I would like to repeat the news at every meeting. However, is this too much notice?

I would elaborate a bit on why the board will likely impose a dues increase every year and may have to impose a Special Assessment when the roof underlayment has to be replaced (estimated at 2033 at present). But Otherwise, I support repeating this at least twice a year. If the treasurer wants to put this on every report, I support this.

The elaboration could be as simple as: "Because the reserve study advises thusly and the board has a duty to hew closely to this advice."

DeanJ
Posts: 1,786

Posted:

Quote:

Posted By SusanO3 on 05/16/2025 2:47 PM
Hi: 95 town homes, N. CA, concrete roofs need underlay replaced on 2033 (well past it's sell by date). Owners that attended the 2025 Annual Meeting were told to expect dues increases every year and Special Assessment nearer the time. This is all laid out in the Reserve Study, but who looks at them!!

I would like to repeat the news at every meeting. However, is this too much notice? Is it too much gloom and doom. How can the Board not mention it often?

Wisdom of others, much appreciated. TIA, Sue

The risk is a bunch of owners voting the current board out and electing illogical people who believe this funding isn’t needed.

I think you should send a notice to every owner explaining the situation and the plan to fund the repair. Every person who buys a unit in your HOA should also receive the same notice.

I fully understand how your HOA got into this position. Why your board adopted an 8 year plan with a balloon payment (special assessment) on the end is a bit baffling though.

KerryL1 (California)
Posts: 14,550

Posted:

Knowing that Shelia, as have I, has served on her HOA board for many years, her advice and mine is based on actual experience. The best approach is to invite the Reserves Specialist (RS if certified) to a Town Hall meeting, where she/he can power-point present your study in general to owners and especially explain the plan to get the roofs funded.

Over 15-18 years our different RS's have presented at Town Halls 3 times and have never charged a dime for their time & efforts.

Pastries and coffee are offered to try to entice attendance. And attendance to all three is much larger than to regular board meetings.

And then follow up with a crisp, clear notice to owners with the same explanation, per Dean's suggestion. I believe he also has several years' board experience. Perhaps the RS would be willing to help draft it.

Yes, announcing this at every Board meetings is way too much, especially if attendance is low as in mine in recent months.

I'd say a. brand article in your newsletter every 3-4 month also is good.

KerryL1 (California)
Posts: 14,550

Posted:

Knowing that Shelia, as have I, has served on her HOA board for many years, her advice and mine is based on actual experience. The best approach is to invite the Reserves Specialist (RS if certified) to a Town Hall meeting, where she/he can power-point present your study in general to owners and especially explain the plan to get the roofs funded.

Over 15-18 years our different RS's have presented at Town Halls 3 times and have never charged a dime for their time & efforts.

Pastries and coffee are offered to try to entice attendance. And attendance to all three is much larger than to regular board meetings.

And then follow up with a crisp, clear notice to owners with the same explanation, per Dean's suggestion. I believe he also has several years' board experience. Perhaps the RS would be willing to help draft it.

Yes, announcing this at every Board meetings is way too much, especially if attendance is low as in mine in recent months.

I'd say a. brand article in your newsletter every 3-4 month also is good.

SusanO3 (California)
Posts: 163

Posted:

Thank you all for good advice.