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), 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, The Landings Journal, Annual Report, The Landings Residential Directory, and voting packets); 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: You should receive your voting packet around the beginning of September, and the deadline to return your ballot will be October 5. 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 Annual Dues is posted on the Association’s website (www.landings.org/Annual-Dues).
Question: How many votes does it take for the Annual Dues to pass?
Answer: The Landings Association’s Covenants have very strict requirements for passage of the Annual Dues. To reach a quorum, at least 60% of the property owners must vote. For the Annual Dues to pass, at least two-thirds of those voting must vote in favor of the proposal.
Question: Why isn't the increase spread out evenly over the three years?
Answer: The Association's Board, Finance, Committee, and Staff looked at many funding options. Ultimately, it was determined this was the best course to achieve the minimum 30% funded recommended by the Reserve Study by the end of the third year. We could have achieved the 30% by the end of year one, but that would have required an even larger increase in the first year.
Question: I heard only $20 of the first year's proposed increase is going into the restricted Capital Reserve Fund. Is this accurate?
Answer: No. $135 of the increase will go into the restricted Capital Reserve Fund in the first year. Over the three years, the majority (58%) of the increase will be allocated to the Capital Reserve Fund.
Question: Why does half of the Association's Operating Budget go to staffing?
Answer: The Landings Association is a service organization, and those staffing expenses are in line with such companies. Think about the Security Officers who staff the gates, patrol the community, respond to calls, and lead the ambulances directly to homes almost twice a day. Picture the Public Works employees who maintain the community, such as sweeping the streets, removing debris, trimming trees, treating lagoons, clearing and cleaning storm drains, and overseeing repairs and replacements of the streets and community paths. The Front Desk staff answers calls, handles walkins, helps register commercial vendors. Marinas staff, both full time and seasonal, move boats and assist the record number of boaters at our two, fully occupied marinas. Those are some examples of your Association at work for you.
Question: Since we have more homes now, do we have more income from Annual Dues?
Answer: No. Owners of vacant lots and those with homes pay the same amount.
Question: We already had an assessment increase for the clubhouse and Fitness Center. Why do we need this?
Answer: Those were Landings Club projects. The Landings Club is completely separate from The Landings Association, and no money from those assessments come to the Association.
Question: How much of the Annual Dues goes toward marketing The Landings.
Answer: Zero dollars. The Landings Company funds the marketing of The Landings using net revenues from property sales commissions.
Question: I thought the County handled our roads, storm drains, etc. Is that accurate?
Answer: No. Because The Landings is a private, gated community, this infrastructure is private and must be maintained by the Association.
Question: How do I ask other questions about this process?
Answer: Please email email@example.com.