Question:
Our Documents regarding HOA insurance state that should the insurance in place for the HOA be cancelled, notice of non-renewal, owners who are Mortagees are to be notified within 30 days. Our HOA Board was notified that the policy would not be renewed, and our Board did not notify anyone, other than put it in the monthly Board meeting notes. We only are allowed to attend the Annual meeting, which is in December, while our insurance policy expired in September. In October all owners were notified, some by mail and some by email, that we needed to vote on a Special Assessment to cover the cost of our new insurance policy which they signed off on. Premium went from $105K to $478K. We were told if we did not approve the SA, our monthly dues would all be increased by $200 a month. We are in the State of Georgia.
– Jackie
Answer:
Hi Jackie,
Kindly review the governing documents to understand what constitutes a notice. If the inclusion in the meeting notes is not considered a notice, you may raise the issue with the HOA board. With regard to the assessments, you may also check the governing documents to see whether there are provisions that limit the amount of special assessments or increase in annual dues. Otherwise, the assessment increase may be valid. For further guidance, kindly consult a lawyer.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
