Is there a limit on how much hoa can charge?

Answer 1

Your annual budget is developed according to the amount of money it costs to support the property on an annual basis. The budget is funded by owners' assessments, which you may be able to pay monthly. So long as you own the property.

Budget line items include services, such as landscaping, pool maintenance and property management; insurance premiums to cover the property, the directors' and officers' coverage salaries, and liability insurance for those officers; and contributions to reserve funds, to replace assets you own in common with other owners, at the end of the assets' useful lives. Depending on your property, there may be more line items.

Your association may be required by law to report to mortgage lenders when assessments are raised by 25% or more in a year.

If your property is poorly run, you could be wasting money.

Volunteer to sit on the finance committee and find ways to save money or maintain your assessments at a reasonable level.

Also, read your governing documents to more fully understand the real estate ownership paradigm in which you own property.

Bottom line: no, there is no limit.

Answer 2

You can find your answer in your governing documents, including the rules -- if your query is about a fine.

If your query is about assessments, there is no limit. However, if an association raises assessments an extraordinary amount, say more than 25% in any one year, generally qualified lenders must be notified.

Answer 3

No, there is no limit to what a homeowners association can charge you in dues even after it is paid off. You pay every month and think it's your house, then some association guy comes around to tell you what color it has to be painted and what kind of grass you can grow and what kind of shingles you are allowed to install. They even get to approve or decline a prospective buyer when you are ready to sell the home.

If you get behind on your association dues they can file a lien against you and your property and ultimately they can even sell your home at auction to the highest bidder to collect what you owe in association dues.

If the association can dictate the usage, appearance, residents, etc. of the house, then for all practical matters the Association actually owns the home.