Quote:
Originally Posted by Gofastoldguy
Sorry...my mistake. It is $140.00 per quarter! That's cheap.
Anyone care to comment on that cost?
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It actually sounds a bit high - our LMA is $150/6 months. But you need to look at how large the areas they maintain are and how many properties share the costs.
In Colorado and Nevada the association documents shall be provided by the seller to the buyer and, just like a home inspection, represent an escape clause. If you aren't in a purchase situation then you can ask to view them. On our sale in CO we acquired them in advance and were able to copy and distribute them without having to go back for each copy.
That package should include the CC&R (covenants), bylaws and financials. The financials should have their costs, a list of capital improvements, and the reserve amount. Our area has a couple of "capital" items - a gate and some entrance signs - that, unfortunately, seem to attract vehicles like magnets, and need to be replaced/repaired so they hold a reserve for those items.
Good luck.