Many board members take great pride in never raising assessments. This is a great practice if there is an ability to reduce certain costs – say insurance premiums. But if it is a result of using less reputable vendors or other risky practices, doing so is likely to catch up with the association in the long run. While inflation has been very low in the U.S. for quite a while, it nonetheless increases by 2 to 3 percent per year, which means that each year assessments don’t increase the association is likely to be facing deficits as the cost of services increase. Read the article………………
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