Case Study Of Martha's Vineyard HOA Board
Revised.
We, the Martha's Vineyard HOA board, are committed to doing everything in our power to not raise the HOA fees. That is one of, if not, the primary reason we were elected. The document you have in front of you, the annual reserve study, was prepared by an outside company to review our situation and make their financial recommendations. We are required by law to run these studies annually and to get the information we need to make financial decisions regarding our reserves and the repairs/upgrades necessary for our complex.
In short, their recommendation is to raise the HOA fees by appx. $56.00 per month in order to cover all the recommended repairs and upgrades. That is an extreme amount of money. We don't agree with
We, the Martha's Vineyard HOA board, are committed to doing everything in our power to not raise the HOA fees. That is one of, if not, the primary reason we were elected. The document you have in front of you, the annual reserve study, was prepared by an outside company to review our situation and make their financial recommendations. We are required by law to run these studies annually and to get the information we need to make financial decisions regarding our reserves and the repairs/upgrades necessary for our complex.
In short, their recommendation is to raise the HOA fees by appx. $56.00 per month in order to cover all the recommended repairs and upgrades. That is an extreme amount of money. We don't agree with