We are in the process of updating our HOA bylaws and establishing HOA fees and reserves. Our HOA is made up of 400 sq ft 1 bedroom oceanfronts; 200 sq ft oceanfront studios; 300 sq ft oceanview studios; 500 sq ft 2 bedroom oceanview; 300 sq ft studios without views.
We need help in figuring a "fair" assessment percentage for HOA fees and reserves. Are there any standard HOA budget formulas to use? What's the best way to do this?