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By CondoAssociation.com • October 12, 2018

Our condo fees keep increasing!

Within the last 2 years there has been small but frequent (and anticipated another within 6 months) increases in our HOA Fees. Is there a formula or scale to alert an owner when the HOA Fees are getting into a "red zone" or "top-heavy" compared to the value of the individual condo unit. In my particular case, the condo units (frame construction) are nearing 30 years of age and more maintenance to maintain and up-date, the reserves with need more funding (and long-term loans) are needed. The value of the condo units are not increasing as frequent and as fast, as the needed expenses. Help ... at what point do I think about bailing-out ?

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.
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