5 Steps: Keeping Homeowners Association Fees From Increasing
All members can help the association minimize its maintenance expenses by observing a few simple considerations.
This helps hold assessment levels—your fees—down.
1. Pay the annual assessment. As a member of the homeowners association you have a responsibility to contribute to the upkeep of the common property. Limiting the need to collect delinquent fees will ensure that assessment levels can be stabilized.
2. Pay your assessments on time. Eliminating the need to send late notices will reduce office and postage costs and will keep fees down. If you are having trouble paying your fees, contact your professional management company or board of directors to see if they can offer a payment arrangement.
3. Clean up after yourself. Debris left on the common area requires special maintenance, and that can mean additional costs. These additional costs do not take in to account the effect that a littered common area can have on your property values.
4. Be kind to the landscaping. Every bush destroyed or flower trampled has as price tag attached and so does the labor to replace it. The landscaping is installed to create a beautiful place for all to enjoy. Less money spent on replacements could mean more money spent on beautification.
5. Observe the rules. Association rules are not arbitrary or frivolous. They have been carefully developed to keep property values up and insurance rates down.
To sum up: Money saved on major expenses such as management, collections, insurance, landscaping, and trash removal can be used to either add services, which may in turn increase individual property values, or to reduce assessment fees.
Remember, the community association is a membership organization. Every member can make a difference and play a role in improving the community for everyone. Contact your management company or board of directors to see how you can contribute.