If my HOA wants to raise yearly dues by 225% due to the developer turning property over to bank, is this legal?
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If my HOA wants to raise yearly dues by 225% due to the developer turning property over to bank, is this legal?
New house purchased 1 1/2 years ago. Was paying $150 per year in HOA dues. Earlier this year it was announced that the developer was turning the property back over to the bank. We were promised many things that will not take place due to this like clubhouse with pool, boat/RV parking. Now we are being asked as homeowners to make up the difference the developer was paying. Do I have any recourse in this matter?
Asked on June 15, 2012 under Real Estate Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Whether or not your HOA can raise your and other members' yearly dues 225% depends upon what is stated in the presumed recorded covenants, conditions and restrictions in your planned unit development as well as other rules and regulations pertaining to such.
You need to carefully read the above described documents to see if such can be legally done by your HOA. I also suggest that you consult with an attorney that practice sin the area of planned unit developments to assist you with any further questions that you might have.
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