Requested Unit Owner Response on Declaration Changes
As a follow-up to our meeting on September 9th, we would like unit owner feedback on the discussion about the proposed changes to our documents. Detailed information about that discussed at the meeting is shown in the attachment, Section V.
It deals with how all the unit owners want to handle Reserves (mainly roofs/siding/gutters), not maintenance and repairs of those items as that will remain an Association expense for each class of units, Standalone and Townhouse units. Do unit owners want the Association to collect reserve fees in the HOA’s or leave it to individual unit owners to save on their own for future replacement costs for roof/siding/gutters? As expenses increased in 2026 (Insurance ++), it is estimated that HOA’s for 2027 will increase from $325.00/month to at least $350.00/month without addressing this Reserves Issue
Therefore,
Option A) Unit Owners responsible for their Reserve contribution (Roofs/Siding & Gutters Replacement Costs). Keeps HOA fees low, by making (Roofs/Siding/Gutters) 80% of Reserves contribution a Unit Owner Expense in future.
Option B) Association responsible for and collect Reserve contributions for Roofs/Siding & Gutters Replacement Costs in HOA’s. Association would then need to raise HOA fees, starting in 2027 by estimated $165.00/month on Average.
As a follow-up to our meeting on September 9th, we would like unit owner feedback on the discussion about the proposed changes to our documents. Detailed information about that discussed at the meeting is shown in the attachment, Section V.
It deals with how all the unit owners want to handle Reserves (mainly roofs/siding/gutters), not maintenance and repairs of those items as that will remain an Association expense for each class of units, Standalone and Townhouse units. Do unit owners want the Association to collect reserve fees in the HOA’s or leave it to individual unit owners to save on their own for future replacement costs for roof/siding/gutters? As expenses increased in 2026 (Insurance ++), it is estimated that HOA’s for 2027 will increase from $325.00/month to at least $350.00/month without addressing this Reserves Issue
Therefore,
Option A) Unit Owners responsible for their Reserve contribution (Roofs/Siding & Gutters Replacement Costs). Keeps HOA fees low, by making (Roofs/Siding/Gutters) 80% of Reserves contribution a Unit Owner Expense in future.
- Unit Owner should save on their own, Average of $2000.00/year, instead of Association collecting HOA’s or doing Special Assessments. As shown in attachment; estimated $2,400.00 for Standalone & $1,600 for Townhouses to cover this future expense.
Option B) Association responsible for and collect Reserve contributions for Roofs/Siding & Gutters Replacement Costs in HOA’s. Association would then need to raise HOA fees, starting in 2027 by estimated $165.00/month on Average.
- HOA fees for 2027 would increase from estimated $350.00/month to at least $515.00/month and Special Assessments still might be needed in future years. We are already 6 years behind on Reserves (Special Assessment Amount in table), some units 18 years, for the Association has only been collecting the minimums for reserves in the last 6 years.