Notice of Dues Increase

The Board of Directors announced proposed changes to the HOA dues for Rhody Lane over the next few months. Currently, the annual dues for each property are $250.00, due by March 25th each year. For 2015, the Board is proposing an increase in dues to $370.00, due by March 31st annually. If you have questions about the proposed increase, please feel free to contact Impact Property Management at the information listed below, and please join us at our Annual budget review meeting in January

Why is there a proposed increase?

A review of our Rhody Lane reserves shows that our current dues are not high enough to cover current improvements or future improvements the community may need. These improvements include; updated playground equipment, repairs to the basketball court, and a repair to a leak in the sprinkler system. 

What is the board doing to keep our costs and dues down?

The Board only authorizes necessary repairs and seeks multiple bids for any service. In addition, we are continuously reviewing our expenses to find areas we can reduce our costs. On an annual basis, we will revisit the dues structure; if the reserve balance is higher than the projected funding requirement, dues will not be increased for that year. 

How do our dues compare to those in other communities?

Each community's dues structure is a unique blend of their common area maintenance costs, the funding level of their reserves, insurance premiums, and any special assessments that have been levied. We recognize that an increase in dues is not a welcome change, but in order to ensure that our community maintains its charm, and more importantly, improves its value over time, a dues increase is necessary. We appreciate your help in making this transition as smooth as possible!