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 Virginia. The Virginia Condominium Act requires that the amount of dues charged by a condo association must be reasonable and authorized by a majority vote of the unit owners. The vote must take place in a meeting that is properly recorded and noticed, with the meeting minutes reflecting the amount of the increase approved by the unit owners. The Condominium Act also states that an increase of more than 10% must be approved by two-thirds of all unit owners. The Virginia Condominium Act does not provide a specific rate of increase that a condo association can charge, but rather it sets a framework in which the association can properly increase its dues if a majority of the owners agree to do so. Additionally, condo associations must abide by any regulations or bylaws that have been set by the association and are applicable to their particular condominium. Even though there are restrictions on how much a condo association can increase its dues, the association must be able to demonstrate that the increase is necessary and that it is in the best interest of the entire condominium. An association may need to increase dues to cover operational expenses or to fund necessary repairs and maintenance. Ultimately, it is up to the condo association and the unit owners to decide on the appropriate amount of dues to be charged.

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

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