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

What is the process for holding a condo association meeting?
Can I be held responsible for a neighbor's noise violations in my condo complex?
Are there restrictions on how I can use a shared balcony in my condo complex?
What is the process for electing a new condo board?
Are there differences in condo laws from state to state?
Am I allowed to install additional security measures in my condo unit?
What happens if I refuse to sign the rules and regulations of a condo association?
Where can I find more information about condo laws and regulations?
What are the laws regarding parking in a condo complex?
Can I make changes and improvements to my condo without permission from the association?

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

Related FAQs

Related Blog Posts