HOA dues increase

Started by SusanH5 • 5 replies • 1494 views

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SusanH5 (Arizona)
Posts: 2

Posted:

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

GlenL (Ohio)
Posts: 5,491

Posted:

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

Studies show that 5 out of 4 people have problems with fractions

SusanH5 (Arizona)
Posts: 2

Posted:

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

CharlesW1 (Georgia)
Posts: 826

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.

Charles E. Wafer Jr.

GeraldT4
Posts: 1,022

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 (Georgia)
Posts: 826

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

Charles E. Wafer Jr.

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