Colorado's Leading HOA Management Company
  • Who We Are
    • Our Team
  • What We Do
    • Management Services
    • Accounting Services
    • Maintenance Services
  • Resale Docs
  • Homeowner Login
  • Board Education
  • Blog
  • Request A Proposal
  • Contact Us
    • Careers >
      • Job Application
  • Who We Are
    • Our Team
  • What We Do
    • Management Services
    • Accounting Services
    • Maintenance Services
  • Resale Docs
  • Homeowner Login
  • Board Education
  • Blog
  • Request A Proposal
  • Contact Us
    • Careers >
      • Job Application
OUR

BLOG

What do your HOA dues pay for?

6/28/2018

0 Comments

 
What do your HOA Dues Pay For

If you live in an HOA, you most likely pay dues, or the correct term, ‘assessments’. Some Associations, like Townhomes or Condos, have monthly assessments; others have annual or quarterly assessments. For those of you who are new to community living, you are probably asking ‘I have a mortgage, why am I paying assessments too?’
Assessments, regardless of their frequency, are an important aspect to running a community effectively. Each community has their own set of expenses, which are paid by assessments, some of the common expenses are:
  • Common Area maintenance
  • Management services (Covenant enforcement, administrative and financial recording, etc..)
  • Common Area Landscaping
  • Common Utilities
  • Reserve Contributions
  • DORA and Secretary of State Registrations



This is a brief list of what is covered by assessments. As mentioned earlier, each association has their own set of expenses. For example, Townhome and Condo Associations also apply assessments towards the exterior maintenance and repairs of their buildings.
​
Diversified Association Management plays an important role in helping the Board of Directors manage the Association’s money according to the approved budget.

If you would like to obtain a full list of what is covered by your assessments, we recommend reviewing your Association’s current budget. You may also contact your Community Manager for a better understanding of your Assessments and how they help your community.

Thanks for Reading!
Picture
Brittany Hampson - Community Manager 
0 Comments

    Archives

    November 2022
    October 2022
    September 2022
    July 2022
    June 2022
    May 2022
    April 2022
    February 2022
    January 2022
    August 2021
    May 2021
    July 2020
    June 2020
    March 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    December 2018
    November 2018
    September 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    December 2016
    November 2016
    October 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016

    RSS Feed

Diversified Association Management, LLC
4325 N Nevada Ave #100
Colorado Springs, Colorado 80907
Phone: 719-578-9111 (office)
Diversified Association Management, LLC
7887 East Belleview Ave, Suite 1100
Denver, Colorado 80111
Phone: 303-586-5564 (office)
Picture
Picture
Picture
Picture
Picture

​Serving the Front Range of Colorado, including Denver and Colorado Springs
Copyright 2022, Diversified Association Management, All Rights Reserved. | LEGAL INFO |  SEO & Colorado Springs Web Design by Infront​