Special Assessments – This may apply to my HOA – 8 15 17

Special Assessments. HOA fees often include special assessments for repairs due to extraordinary weather events. In practical terms, that often means the reserve portion of the HOA fee paid for the extraordinary repairs, and now the Board must replenish the reserve by asking homeowners to cough up additional fees. If the special assessment is too high, ask the Board to either defer the assessment for a year or two or spread the special assessment over several years instead of just one…..

read more at https://www.grandmanors.com/blog/what-you-should-know-about-why-homeowner-associations-have-fee-increases

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