Annual Dues Frequently Asked Questions
Question: What does the Property Owner Annual Dues (Assessment) pay for?
Answer: The Annual Dues, along with non-Annual Dues revenue, helps fund the Public Works Department, which maintains and improves common property, including 91 miles of roads, 30 miles of trails (22 paved), 151 lagoons, trees on 715 acres of Common Property, and Landings Association vehicles. The Security Department oversees security for our 8,500 residents and the approximately 10,000 vehicles that enter The Landings each day. Security Officers perform premise checks of private and common property and provide emergency assistance to residents.
The Dues also funds General Administration; Community Development (architectural reviews and development activities, and includes Private Property Maintenance Standards inspections); Communications and Community Outreach (website, Landings Journal, Annual Report, The Landings Residential Directory, voting packets, and community events); and staff that you deal with in person and via phone or email at the Association’s office.
A portion of the Annual Dues revenue also goes to the Capital Reserves Fund that is restricted for repairs and replacements of our capital assets, such as bridges/structures/equipment, roads/community paths, and storm drains/lagoon structures. There are close to $80 million in capital assets, and the reserves are an orderly system to fund their repair or replacement.
Question: What are the proposed amounts of the three-year property owner Annual Dues?
Answer: The proposed amounts for the next three years beginning January 1, 2021 are $2,070, $2,170, and $2,270. For reference, the amount per lot for the last three years (2018-2020) was $1,850. Though this is an increase, the amounts are still below the average national Annual Dues of $2,400 - $3,600 (Realtor.com)
Question: Why is the amount not a flat amount for each of the three years?
Answer: The Board, Finance Committee, and Staff looked at many different options, to help achieve the required Reserve Fund amounts to be "adequate" by industry standards. Rather than trying to achieve that all in year one, which does have a higher increase than in years two and three, it was decided that phasing in the increase would provide less of a burden.
Question: When is the voting deadline, and will we be able to vote online?
Answer: The final voting date will be late September or early October. As in the past, the Association has a secure, online voting option in addition to the enclosed paper ballot. Please see the separate sheet for instructions.
Question: Where can I get more information?
Answer: Information concerning the Assessment is posted on the Association’s website (www.landings.org/Annual-Dues).
Question: How many votes does it take for the Assessment to pass?
Answer: The Landings Association’s Covenants have very strict requirements for passage of an Assessment. To reach a quorum, at least 60% of the property owners must vote. For the Assessment to pass, at least two-thirds of those voting must vote in favor of the Assessment.
Question: How do I ask other questions about this process?
Answer: Please email email@example.com.