Are there restrictions on how much I can increase my condo association dues?

Yes, there are restrictions on how much a condo association can increase its dues in North Carolina. According to the North Carolina Condominium Act, the condo association must provide at least 30 days’ notice of any proposed increase in condo dues. Additionally, the condo association must have a unanimous vote from all of the homeowners in the association for the increase to be made. The state allows associations to increase dues no more than 20% per year (without a unanimous vote). Dues cannot be increased more than 20% in any single year and cannot be increased more than 50% over a five-year period. The decision to increase dues is a major one, and all homeowners should make sure that the association has a good reason for the increase. The association should make sure that all homeowners understand the purpose of the hike, and homeowners should make sure that their dues money is being used responsibly by the association. It is important to remember that condo dues are one of the main sources of income for the association, so it is important that dues stay within the legal limit.

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Are there restrictions on how much I can increase my condo association dues?

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