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South Coast Springs Homeowners Against the Increase in Association Dues
To/Against/For: South Coast Springs Board of DirectorsTo: Board of Directors of South Coast Springs
Dear South Coast Springs Board of Directors,
We, the owners of the condominiums at South Coast Springs, implore you to reconsider raising the homeowners' association dues at this time. This is a response to the recent notice of increase in homeowners' association dues.
We understand that you believe you are performing your fiduciary duties by increasing the already outrageously high dues, but in fact, you are causing increasingly diminished home values, negatively affecting renter turnover, and taking money out of our pockets in a time in history when we need to be looking at ways to cut back spending.
We don't believe the residual study is valid or reliable. We believe you should be focused on what the Board of Directors has done to squander the massive amounts of money it receives every year from the outrageously high dues.
We remember that our dues were raised by a similar amount around this time in 2006 - a total increase of roughly 40-50% in only 3 years!
We are appalled that we have been given only one month's notice for such a large increase. We feel that the Board of Directors is not being respectful of our needs and hasn't looked at the big picture as well as alternatives to an increase.
We are ready to elect a new Board of Directors if you fail to put a stop to this increase and look inward to see what has gone wrong over the years. We are also prepared to change our Professional Management Company.
Please put a stop to the proposed increase and begin looking for ways to lower our current dues.
Sincerely,
The Undersigned
Recent Comments
| Name | Comment | |
| Matt Hill | I agree with the above petiton. Time is not right to increase HOA dues. | |
| BRIAN AHMADI | I fully endorse the above petition. I am working only part-time and my mother, who is on disability and SSI, will be living at my condo. We can not afford this hike in the HOA dues. Perhaps next year when the economy rebounds, not now. |
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