Many homeowners have expressed their concern about rising homeowners dues. Let’s look at an example: In 2005, the Annual Budget for Kenthill Townhomes was $218,834. In 2006, an approximate 5% increase was enacted for a new 2006 Annual Budget of $228,834. $228,834 - $218,834 = $10,000. So a 5% increase is roughly $10,000.
During the 2007 Annual Meeting, the different Board members, the Secretary, the Treasurer, and the President gave their respective reports on the state of Kenthill Townhomes. Various data from the President’s report, together with some more recent information, will prove valuable. The following are excerpts from that speech (please remember that the following statements pertain to 2006 only:
“Our monthly invoice from Waste Management, Inc. varies from $1,500 to $1,800 per month. In 2003, we had a fire in one of our buildings. Costs were approximately $14,000. In 2004, a lighting repair project was accomplished near Buildings A, B, and C. Competitive bids were obtained which ranged as high as $15,000. After much Board interaction, the project was completed for $6,000. In 2005/2006 (Winter), a windstorm resulted in considerable damage to several buildings. Costs included $2,000 for tarping, $2,000 for additional landscaping cleanup, and $5,000 for our insurance deductible. [Insurance paid for one roof installation]. In 2006, five major plumbing problems occurred (broken or leaking water shut on/off valves) at an average cost of $2,200 to $2,500 each. Experts in building maintenance were consulted; the consensus is that more problems are likely to be discovered in the future, given the age of the property (built in the early 1970’s). In 2006, the passage of the Witten Consent to Amend returned the responsibility for the maintenance of windows, entry doors, and screen doors to the Association. In 2006, homeowners requested and had installed numerous entry doors and screen doors at a cost of $5,496. Window repairs (including broken windows, BB shot glass, etc.) totaled $3,668. Wood siding repairs continue at various places at buildings throughout the complex. These include (but are not limited to) Building L $1,721.00, Building R $2,237.00, and Building A $3,293.00.”
It should also be noted that requests for installations of entry doors and screen doors continue to occur in 2007 (requests sharply rose after the March 27, 2007 Annual Meeting). Installations have occurred at Building A, Building I, Building P, Building K, and Building L.
