Yearly HOA Dues

Started by PeggyH • 3 replies • 2146 views

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PeggyH (South Carolina)
Posts: 36

Posted:

Our CC&R's refer to a maximum amount we can charge or HOA Dues, but I can't find anywhere that it says what we are actually charging for Dues. Shouldn't it be noted in the CC&R's or By-Laws what we are actually paying, in case of audit.

RogerB (Colorado)
Posts: 5,067

Posted:

PeggyH, no your CC&Rs should never state what the amount of the current assessment. If they did, the CC&Rs would have to be amended each and every time before the assessment could be changed. The only relationship to an audit is to comply with what the controlling documents require, such as not exceeding the maximum allowed assessment.

JoeW1 (New York)
Posts: 728

Posted:

PeggyH - Please sight what your cc&r's state. What are you currently paying in HOA dues?

PeggyH (South Carolina)
Posts: 36

Posted:

Joe,We currently pay $160.00 a year. The CC&R's state our maximum is $250.00, for the first year,then 10% a year thereafter.

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