Condo fees

[Solangel Alonzo]

 To the Woodland Village Property Manager,

In the most recent budget report submitted to the Woodland Village Association board members earlier this year, it was brought to our attention that according to the master deed the affordable units should only pay 5% for condo fees.  This means that the affordable unit owners have been overpaying the monthly condo fees since management companies have been managing the property.

The affordable units here are #2, 3, and 4.  The condo board got requests for payment reimbursements. Considering the current financial situation and available condo funds, the board decided that it would be best if the affordable units reduce their monthly condo payments with same amount they have been paying all these years for now, before any further action. 

The following is the calculation of the overpayment of condo fees made to Woodland Village:

Condo fee paid to Woodland Village 

HODAN Management Company 2002 to 2014: affordable units $169.72 normal units $196.96 overpaid $71/month

Empire Management Company 2015 to 2020: affordable units $235.95 normal units $278.85 overpaid $78/moth

North Point Property Management 2020 to February 2022: affordable units $235.95 normal units $278.85 overpaid $78/month

Currently starting March 2022--- affordable units 157.25 normal units 337.58 

During all these years the owners of the affordable units instead of paying 5% as it is written in the master deed, paid 8.4%.

Proposal (instead of the association paying back the overpaid amount to the owners of the affordable units): The owners of the affordable units will pay monthly condo fee of $80 instead of the current $157 until each affordable unit reaches its overpaid amount.

Unit 2 = October 2004 - February 2022 - 18 years

Unit 3 = February 2002 - February 2022 - 20 years

Unit 4 = 2012 - February 2022 - 10 years

We would like to thank you for your diligence and great service.

Solangel Alonzo

[Solangel Alonzo]

Below is an email sent to the property management company.  Please read and direct any questions to them.  Thank you.

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Subject: Condo fees

 

 To the Woodland Village Property Manager,

In the most recent budget report submitted to the Woodland Village Association board members earlier this year, it was brought to our attention that according to the master deed the affordable units should only pay 5% for condo fees.  This means that the affordable unit owners have been overpaying the monthly condo fees since management companies have been managing the property.

The affordable units here are #2, 3, and 4.  The condo board got requests for payment reimbursements. Considering the current financial situation and available condo funds, the board decided that it would be best if the affordable units reduce their monthly condo payments by the same amount they have been paying all these years for now, before any further action.