---
title: NY condo board raising monthly fees, your opinion?
description: I advised the board to implement the increase when the project is started, since I believe that a future board is not obligated to spend the money on its intended purpose.
image: http://www.condoassociation.com/hubfs/condo-fees-too-high-for-seniors.jpg
---

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# NY condo board raising monthly fees, your opinion?

| [Property Damage & Repairs](https://www.condoassociation.com/blog/topic/property-damage-repairs) |   [Condo Reserves](https://www.condoassociation.com/blog/topic/condo-reserves) |  

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## What do you think? Question:

![condo-fees-too-high-for-seniors.jpg](http://www.condoassociation.com/hs-fs/hubfs/condo-fees-too-high-for-seniors.jpg?width=320&name=condo-fees-too-high-for-seniors.jpg "condo-fees-too-high-for-seniors.jpg")I live in a 100 unit condo in NY. I was board president for 10 years.

The new board just instituted an increase of 13% in the form of an increase in monthly common charges. (9% is slated to go into reserves for roofs and roads that will need replacing in 5 to 10 years)

When asked, I advised the board to implement the increase when the project is started, since I believe that a future board is not obligated to spend the money on its intended purpose.

Our by-laws do not "lock in intended money for specific use". The condo is in very good financial shape with about $200,000 dollars in reserve funds at this point.

The new plan would give us about 4 times that amount in reserve.

Many residents are seniors and the demographics will change in the next 5 years.

What is your opinion?

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## What do you think? Answers (7)

#### What are your thoughts on this topic?

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

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