Re: HOA Dues Increase
From: fergyb2 (fergyb2yahoo.com)
Date: Fri, 5 Jul 2019 12:27:59 -0700 (PDT)
       Actually California law requires a Reserve Fund report to the HOA but 
there is no requirement to adequately fund it.  Most HOA s are underfunded and 
this leads to much misery as the buildings age and major repairs and/or 
replacements (like roofs) become necessary and the only way to pay for them are 
large special assessments.  We’ve always tried to keep our Reserve adequately 
funded but even so we got blindsided by our local government suddenly deciding 
we were responsible for testing and repairing the lateral sewer lines that 
connect to the main sewer pipe which turned out to be a $60,000 job. So we had 
to have a special assessment after all.
        Bonnie Fergusson
      Swans Market Cohousing
      Oakland, CA

Sent from my iPad

> On Jul 4, 2019, at 11:44 PM, Jerry Koch-Gonzalez <jerry [at] 
> sociocracyforall.org> wrote:
> 
> If yoiu have never had a condo fee increase I am either very happy or very
> sad for you.
> I assume first of all that in all these 11 years you have for the most part
> not overspent your budget. Great. But my next question is: have you
> adequately funded your replacement reserves? If not, you could be in for a
> big shock - a special assessment or a steep hike in your condo fees.
> Adequate funding of your replacement reserves is probably a legal
> requirement in California, and there are definitions of what adequate means.
> Our condo fees are based on a formula - part on just presence and part on
> the size of the units. And we have an automatic condo fee increase. So we
> need consent to lower the amount of increase rather than the other way
> around. Saves a lot of argument.
> 
> Jerry Koch-Gonzalez
> Founding Resident, Pioneer Valley Cohousing Community
> <http://cohousing.com/>
> 
> 
> 
> On Fri, Jul 5, 2019 at 12:59 AM G/P Looney-Burman <
> burloon [at] fresnocohousing.org> wrote:
> 
>> Our almost-11 year old community of 28 homes has never had an HOA dues
>> increase, and we are now, obviously belatedly, going to have one.  We're
>> asking for input regarding methods of dues increase: how do you determine
>> how much of an increase is needed? How do you reach consensus or agreement
>> about having an increase?  Are your dues based on the size of each home?
>> Have you had annual increases?  Increases as needed?
>> 
>> 
>> 
>> Any information is welcome!  Thank you in advance.
>> 
>> 
>> 
>> Pat Looney-Burman
>> 
>> La Querencia (Fresno Cohousing)
>> 
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