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  1. #1
    Join Date
    Feb 2008

    Default HOA Fee Increase In Alaska

    I received notification from our HOA that the property management firm that was handling the associations finances embezzled all of the funds. In response, they are raising our dues from $137 a month to $200 a month. Is this legal? They also charge two late fees on any payments that are late. One is a flat $25 fee, the other is a percentage of the balance. I can't find anything in our state laws regarding HOA's or late fees. Thank you!

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: HOA In Alaska Question

    What they probably should do is a special assessment to restore their reserves; but that wouldn't help you. They should of course seek to recoer their funds from the company.

    Their actions are limited by the bylaws. I have no idea what they say about late fees. Read them.

    You and your fellow aggrieved homeowners may wish to consult a lawyer about your rights, and whether the directors bear responsibility for failing to properly manage the funds, exercise proper supervision, or carry appropriate insurance.

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