Annual Assessments are used to pay the costs of ongoing maintenance and repairs to a community’s common areas, equipment, systems and shared amenities (see examples below). Payments are made annually and are due by January 31st of each year. As an ancillary benefit, homeowners can use and enjoy community amenities that may not otherwise be able to afford or maintain a swimming pool, tennis courts, playground and/or sports court. Assessments pay for landscaping maintenance, security cameras and access gates, amenity area trash removal, amenity electricity and amenity area cleaning and trash removal, liability insurance and self-management costs.
We allocate a portion of all homeowner dues to a special long-term reserve account to cover planned and budgeted renovations or repairs that do not occur regularly, such as repaving interior roads and amenity repairs. They also set aside contingency funds each month to cover unforeseen community expenses and emergencies.