At a time when the economy is financially strained many of us have had to make concessions in order to maintain our monthly expenses. With this $72.00 monthly assessment increase the association will be directly causing further financial hardship for most. This will increase the debt for those on special payment programs and vacant properties, as well as the loss in resale value due to unreasonable HOA dues for homebuyers. HOA fees that are viewed as unusually high ($432.00) are a deterrent for those looking to purchase a condominium. This will lengthen the sale cycle forcing homeowners to lower the cost of their property in order to make it appealing to a new homebuyer.
We recognize that the renovation work needs to be completed and a smaller Special Assessment to finish the project is suggested, instead of the permanent $72.00 increase to our monthly assessments.
We as a community need to work together on this issue and are requesting that the board be reasonable during these tough times. If you are in agreement with this action to recall the $72.00 additional assessment to our current HOA dues, please sign this petition by filling in your information to the right and click sign now.
Homeowners of Pentridge Cove 1