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 the state of Texas. The Texas Property Code states that the condo association dues cannot be increased more than 10% in any one year without the approval of the members. That means that if the condo association is attempting to increase their dues more than 10% in one year, they must call a meeting of their members and get their approval. When it comes to increasing association dues, there are also other limits set out in the Texas Property Code. For example, if the association wants to increase dues by more than 10%, there must be a 60-day notice given to the members before the increase takes effect. This is to give the members time to review the proposed increase and possibly make changes. Finally, the Texas Property Code requires the condo association to submit a budget to the membership each year for approval. This budget must include the proposed dues for the upcoming year. If the condo association wants to increase their dues more than 10%, they must include that information in the budget. Once the members approve the budget, the condo association can increase their dues up to the approved amount.

Related FAQs

Can I challenge decisions made by my condo board?
Are there laws that require the condo association to provide certain amenities?
Are there limits on how much I can be charged for condo fees?
Can I be held responsible for damage caused to shared areas in a condo complex?
How do I go about getting permission to make changes to my condo unit?
Where can I find more information about condo laws and regulations?
Who enforces the condo laws?
What if an owner fails to maintain a unit in accordance with the condo rules?
Are there restrictions on what I can do with my condo unit?
Are there limits on the number of people who can stay in my condo unit?

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

Related FAQs

Related Blog Posts