QUESTION

Is my HOA figuring the association dues correctly?

Asked on May 20th, 2014 on Real Estate - Colorado
More details to this question:
I own a commercial condo in a mixed use complex containing five (5) commercial units and four (4) residential units. My condo is a commercial warehouse space with 20' ceilings and two garage doors. The other commercial spaces are finished retail. The residences are very high-end condos. One of the units sold for $950,000 in 2008. When I purchased my unit (new construction), the building owner had the HOA fees determined by overall square footage. My space is 2600 square feet, or 25% of the total mixed-use project (inside footprints). Therefore, I pay 25% of the entire annual budget for the HOA. I feel this is not a fair way to allocate the fees, and should be divided equally by the total number of units, or have equal fees for the commercial units and equal for the residential units. How are other mixed use complexes figuring their association fees? Thanks, Roger
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1 ANSWER

Litigation Attorney serving Castle Rock, CO
3 Awards
Roger,   The answer to your question lies in your HOA By-Laws.  You have a good argument but the bylaws are controling.  The bylaws can be changed by the board of directors if they agree with your rationale.   Good Luck!
Answered on May 20th, 2014 at 4:05 PM

Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.

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