BrianM28 (Oregon)
Posts: 1
Posts: 1
Posted:
Our community has Protective Covenants written in 1993 which established a Owner’s Committee that included the line... "...establish the amount of assessment be levied to each Lot for the maintenance of the entry and traffic island landscaping: said amount not to exceed $100 per Lot year." The $100 was handwritten in.
The HOA incorporated in 1995. The bylaws have an article on assessments. This includes multiple sections and subsections on things like Capital Improvement Assessments, Reserve Account for Replacing Common Property, Insurance, Taxes, Accounting, etc.
It's a small HOA with less than 100 houses and the only common property is a traffic island and entrance monument.
Because our expenses are so low, dues have been under $100/year until now. There are some homeowners that view the $100 cap on landscaping written for the transitional committee to apply to the HOA and its annual budget. The argument is the Covenants take precedence over the Bylaws.
Is this a common issue? Does anyone have any guidance.