Maintenance of the Community is Important Recent articles have mentioned the value of maintaining proper operating and reserve funding in today’s homeowner associations. Now, let’s get on with the proper spending of that money. Maintenance fees are collected in every common interest development, although called by different names such as “regular assessment”. Sometimes the fee [...]
Assessments
Assessments are an expected part of life in a HOA community. The only way common area maintenance is handled is by the owners paying a regular assessment that, when paid along with other owners in the community, are sufficient to cover the cost of operations.