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Old 02-08-2010, 11:49 AM
 
1 posts, read 2,843 times
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Is there any limit to how much a HOA can increase due's in a single Year? is an increase of 500 % unresonable.
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Old 02-08-2010, 11:51 AM
 
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It should be spelled out in the HOA's docs. If you got an increase like that, it sounds like you're living in one of the condo towers that only 5% sold.
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Old 02-08-2010, 12:09 PM
 
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All depends on your HOA docs. If funds are needed though they need to be raised from the owners.
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Old 02-08-2010, 02:26 PM
 
Location: Nashville, TN
225 posts, read 523,265 times
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Also, it depends on if your HOA's are based on a house or condo.... If it's a condo, does your condo community have assessments and such?
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Old 02-08-2010, 06:06 PM
 
Location: Inman Park (Atlanta, GA)
21,871 posts, read 13,430,563 times
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Don't forget, the home owner's need to vote on the increase too in order to pass it. That goes the same for Special Assessments too.
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Old 02-08-2010, 07:32 PM
 
Location: Colorado Springs, CO
1,570 posts, read 5,438,520 times
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Again the gov. docs will tell the tale. I must disagree with an another post - seldom will the homeowner's be required to vote on an dues increase - usually, the Board of Directors vote for the dues increase. At the annual meeting, it is typical for the homeowners to vote to accept a new annual budget - which may contain the new increase in dues. But more often than not the BOD set the dues. Again, I'm speaking in very general statements - must read the gov. docs. of each HOA!
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