The notice from the homeowners association blamed rising costs of labor, supplies, and insurance, among others, the outlet reported. The condo’s property insurance apparently rose from $17,000 to $108,000 after its prior policy was canceled following a fire.
“I do think it is pretty ridiculous that we all have to pay for that one incident,” one resident who has lived there for close to five years said. She called it horrible timing, too, because she just had to pay a hefty veterinary bill for her cat.
Homeowners were given an alternative: a 17% increase in monthly fees, plus a single payment of $3,000. One resident said his family had saved up almost that much but it wasn’t meant for costlier HOA fees.
“We’re having a baby girl in January, and so that was supposed to go toward her [being] born,” the resident said. “Now it probably won’t.”
https://fortune.com/2024/12/04/utah-bountiful-hoa-orchard-corners-monthly-condo-fees/