HOA dues increase

Started by SusanH5 • 5 replies • 1494 views

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SusanH5
Posts: 2

Posted:

Is there a maximum percentage of dues increases that can be assessed during a time period? SusanH5

GlenL
Posts: 5,429

Posted:

Susan that depends on YOUR documents or applicable state law; California limits the increase to 20% per year other states do not.

SusanH5
Posts: 2

Posted:

Our documents do not address this and I couldn't find anything in AZ. laws. Thanks. Susan

CharlesW1
Posts: 817

Posted:

Quote:

Posted By SusanH5 on 02/28/2008 5:32 AM
Our documents do not address this and I couldn't find anything in AZ. laws. Thanks. Susan

SusanH5,

I would think the answer you are seeking can be located in your governing documents.

In our covenants the board isn’t required to notify any owner of an increase as long as the increase isn’t more than 10%, a year.

The board (of which I’m a member of) felt that as much notice as possible is in doing what is right for all homeowners.

Remember that the board members are also Lot owners (more than likely) who are subjected to the same assessments/due as you are, therefore they too will need to pay the increase.

I don’t believe that there is anything illegal about the increase unless otherwise, stated in your governing documents or state statues.

Best of luck
Chuck W.

GeraldT4
Posts: 1,011

Posted:

SusanH5 - As you can see, other associations have ability to increase differently. The best method to cover expenses is to budget appropriately and charge maintenance fees that will accomplish it. However, special assessments are another, less popular, and sometimes necessary method to accomplish funding. Better to raise maintenance fees than special assess.

CharlesW1
Posts: 817

Posted:

SusanH5,

I agree with GeraldT4, you will find many different verses making reference to your particular question, and a valid one at that. IMO!

Again I would say to review your governing documents, such covenant may or may not be stated in there.

Chuck W

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