Crested Butte Home Owners Association Fees
Crested Butte Home Owners Association (HOA) Rules and Regulations
Understanding Crested Butte Home Owners Association Fees and rules and regulations, bylaws, declarations, covenants, and fees can be a head scratcher for many Buyers seeking to Buy a Crested Butte Home for sale. These Crested Butte Home Owners Association rules and regulations and budgets and assessment can also be misunderstood for many Crested Butte second homeowners who are not active in their HOA.
What is included in the Crested Butte Home Owners Association Fees?
Recently I was doing some research for a Buyer client and I asked the listing agent and the property manager for the HOA the following question:
“Can you please provide a list of what is included in the HOA Fees…?” Simple question right… The response was: “..generally all exterior maintenance on the structures, landscaping, snow removal…etc.”
Hmmm… I did not ask a “general question”, I asked a specific question.
Given the lack of clarity – I visited the HOA’s website and dug through the annual meeting minutes to find out that at the previous years annual meeting there was discussion about exterior staining NOT being included. There WOULD BE a hefty “special assessment” for the owners. Ouch!
This was contrary to both the answers I received. This is also an example of the reason it is a good idea to understand what is going on in the HOA as some things may change from year to year…
Exterior Maintenance may be included… But, if the staining, or deck repair, or roof repair bills are higher than budgeted (or estimated work), then there will be an increase in dues, or an assessment voted on to provide the funds… With all the snow we have had this winter it is probable that most Crested Butte Homeowners and HOAs will probably exceed their snow removal budgets this year.
What is a HOA?
An organization in a housing subdivision, a planned residential community or condominium that creates and enforces rules for the benefit of homeowners. Per their rules, HOAs will collect monthly, quarterly, or annual dues to pay for upkeep of common areas, and can levy special assessments on homeowners to accrue capital reserves, or when the association lacks sufficient funds to pay for unexpected maintenance repairs.
Crested Butte Homes and Home Owners Associations
Except for the homes in downtown Crested Butte, and the older annexations in Mt. Crested Butte most single family homes in Crested Butte are in a HOA. Expect that there will be an HOA fee for your condo, town home and many single-family homes. HOA fees are based on years of actual costs, and a budget and financials will be available to you to review.
Some HOAs are professionally managed, and the homeowner fees will also help cover the management expense of this service. Other HOAs are managed by homeowners who volunteer to sit on the board. Most HOAs have a property manager who is subcontracted to oversee all aspects of the physical management and maintenance throughout the year and coordinate subcontractors. Most HOAs are well run and have a sufficient capital reserve fund, and a planned maintenance schedule that goes out for many years. Other HOAs may not be able to get fees increased or assessments approved and will continue to see deterioration to facilities, and consequently property values will suffer.
All condos and town homes, and many single-family homes in the Crested Butte area are a part of an HOA. HOAs help maintain the quality of life for the community’s residents and protect property values for all owners. HOAs are often the target of criticism when they levy an assessment or increase in HOA dues to set aside money for capital reserves or perform expensive road maintenance that members don’t think is necessary, or impose rules that members find too restrictive.
All HOAs of subdivisions with single family homes will have an Architectural Control Committee or Design Review Committee or some board that will review and approve new construction, remodeling, landscaping, tree clearing, fences, etc. Common guidelines include a structure’s overall size, height, materials, colors, setback requirements, etc. The Homeowner’s Association Board of Directors typically appoints the people on the committee. Many mountain town HOAs have architectural restrictions, which protect mountain views, maintain a pleasing and uniform aesthetic look and feel, or prevent owners from allowing their homes to deteriorate. This group is in place to enforce the guidelines or rules for the entire HOA and to maintain the aesthetics and property values in the subdivision. It is always best to approach these committees with a local architect who has built in the subdivision previously and who knows the board members. Arrive to such a meeting with a flexible perspective.
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This post Crested Butte Home Owners Association Fees regarding HOAs in Crested Butte, and the level of detail is representative of what you can expect from me as your Real Estate Agent.
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