QUESTION:
Can a board raise the monthly assessment for a fixed time
period, i.e., twenty four months? How binding would this sunset clause
be on
future boards?
ANSWER: Provided the increase is within
the
20%
limit, a
board can raise the dues for a fixed period. Even though the board
promises to
make the
increase temporary, that promise is not binding on future boards.
Subsequent
boards can take
into account the needs and economic realities in the years that follow.
The next
board might decide to discontinue the increase earlier than planned or
continue it
for additional years.