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Real Estate
Reply to "I need to raise Common Charges Again - When do I tell People?"
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[quote=Anonymous]I would present what the condo dues should be and then propose that you phase in an increase to that dollar amount over the next 3 years. And on top of that I would propose a bylaws amendment that automatically raises condo dues by the same percentage as inflation (I would actually pick the same percent that social security goes up). Unless either 3/4 of the board of directors or 3/4 of the owners determines that a lower amount should be imposed. I would also look at what raising your flood insurance deductible would do to premium and likewise what continuance as to 10-20% of repairs would. With the latter you need to build the reserves even more though. [/quote]
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