Comments | frostymaii: Fumes

frostymaii

Fumes

Dec 11, 2008 08:33

Ok, so last month we get a letter in the mail that has a distressing, "Proposed rate increase to the HOA Fees" It says lots of catchy things like, "Proposed" "$20.00" "Meeting to discuss" "Vote" and gives a time and place ( Read more... )

Comments 2

(The comment has been removed)

frostymaii December 12 2008, 16:35:51 UTC

Guess I'll look into that.

laken_steeljaw December 12 2008, 17:30:50 UTC

Ah, hell. Just like Monaco Place where we used to live. The HOA fees were INSANELY high (over $400/mo), but that was due to structural problems with the buildings themselves, along with the HOA (which was owner run) mis-budgeting. It took a huge deficit before they decided to let the management company do what was best and attempt to balance things back out.

Your complex shouldn't have those structural issues, and as units fill, HOA fees should LESSEN because there's more people to split basic costs, such as landscape, lot repair, etc. Something is massively not right, and I can almost guarantee that if the HOA fees get up to the level you described, that it will make your unit VERY hard to sell should you ever decide to. Not to mention an extra $500 on top of a mortgage payment isn't good.

Good luck, and fight them on this! Go over your contract with a fine toothed flea comb. If there's a way to fight, take it. This seems WAY too fishy....