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By CondoAssociation.com • August 4, 2020

Should we raise our HOA fees or get a loan to cover project costs?

I’ve proposed to our Board of Directors we should get a loan to cover costs of a few major repairs versus imposing a $3600 -$4000 special assessment for one repair. This will raise the dues approximately $50 per month and accomplish more than one project (our dues are rather low) so far it’s been a month and they have not responded. Got any suggestions? This special assessment will result in liens being filed on units I’m sure, we are in a good position with very few delinquency.  Lake Stevens, Washington

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