Is a Fee Increase Needed in This Economy?

The Community Associations Institute reports, almost 40% of associations did not increase assessments during the most recent budgetary cycle. Of those that did raise assessments, 33% of respondents say assessments increased 1 to 3%, while 17% report a 4 to 6% hike, 7% a 7 to 10% increase and 4% an increase of 10% or more. About 13% of associations levied a special assessment during the previous 12 months. (https://www.caionline.org/about/press/Pages/CAISurveyManagersandBoardsareOptimistic.aspx)

If your association is unsure if a fee increase is indicated this year, a reserve study may help your board make the decision.

    Paul Mengert, President

    Association Management Group, Inc.