Budget Time: How much should you charge for assessments?

October officially marks budget season for many community associations across the country. And with budgets comes increases in regular assessments. That means not only is this a bad time for community managers and board members, it’s also challenging to your homeowners, and can lead to major blowups over increases.  One thing we have seen time and again is communities that fail to plan their budget properly. Some communities increase assessments based on an arbitrary value like cost of living, or a percentage dictated in the community documents. Still more communities choose not to raise assessments at all – not because they don’t need to, but because the board doesn’t want to make an unpopular decision.     Read the article…………


Related Articles

Perspectives from a property manager regarding developer turnover

As a property manager one of the biggest challenges in maintaining a community after developer turnover is identifying sources for

Common Mistakes New Board Members Make

The operation of an association is one of our purest forms of democratic government. Simply put, owners nominate and elect

Successful Budget Preparation

In order to operate a successful community association, there are many important facets of association governance that must be understood