Will these amendments cost homeowners a lot of money?

No. The goal of these amendments is actually the opposite — to solve the financial shortfall while keeping the impact on homeowners as small and manageable as possible.

The amendments were designed to give the Association the tools and flexibility it currently lacks to responsibly manage its finances and address the financial shortfall.

Some of the amendments even create revenue sources that do not cost the average homeowner anything, such as fees collected when homes are sold or rented.

The alternative could be extremely costly. If the Association were forced into court-appointed receivership, homeowners would be responsible for paying the legal costs, the receiver’s hourly fees, and whatever assessments the court determines are necessary to operate the community.