Is there a legal limit on the annual increase on HOA fees? Can the fee increase 200% in one shot?
Answers (2)
Nicole,
Mack is right! Check your By-Laws regarding changes in dues. Are you sure this is not an assesment of some sort for improvements?
Web Reference: http://www.dudleydoright.wordpress.com
FIRST ANSWER
The HOA dues and any increases are dictated by the covenants of the community. Typically a 200% increase would probably not be allowed unless voted on and passed by the members of the association. In most bylaws that I have read it would take a 67% majority of all members to pass an increase like this.
Web Reference: http://www.mackperryhomes.com
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