Increase in Maintenance
It has been over 7 years since SCCA has needed to increase the maintenance fee directly, and at that time the increase was a $35 increase. We were able to hold off an increase in maintenance fee in 2016 when the owners as well as the Board of Directors voted overwhelmly in favor of dropping the cost of providing Comcast basic service. This action allowed SCCA to continue covering the normal recurring expenses, unexpected expenses, and continuing to rebuild the reserve fund. We want to express our appreciation to Owners who have been diligent in paying their maintenance in a timely manner.
The cost of living only continues to rise for everyone all the time. Unfortunately, that also applies to SCCA. The cost of all services rises almost every year, i.e., power, water, garbage, Bug off, pool, ground maintenance, sprinklers, lawn care, and legal fees. Below is a quick summary:
We pay over $63,225.00 for Insurance to cover all 3 phases; this year’s increase was the sharpest increase in some time.
Our buildings are 47 years old and it cost more and more to keep them in repair, i.e., plumbing, roofs, painting. Several of these factors contributed to the increase of the insurance premium. Those items are at the top of the agenda for the 2021 Board of Directors, and cost-effective solutions will be discussed in the upcoming board meeting.
The roof in Phase 3 (3771, 3781, 3791) is one issue that will need to be resolved in the coming months. This was one of the issues pointed out by several Insurance carriers as a source of increased premiums. This roof will need to be replaced entirely due to age. The BOD has already received several quotations from local companies and those quotes so far range from $80 to $110 thousand dollars. All the roofs in all the other buildings (Phase 1,2, &3) were replaced within the last 15 years, and with minor maintenance will be viable for the next 5-10 years.
As of the time of this letter, with the rise in monthly costs, and if no increase in maintenance were implemented SCCA would begin to work at a monthly deficit.
With all of the above in mind, The Board has unanimously agreed to raise the maintenance $40.00 per month beginning APRIL 1, 2021.
A ONE BEDROOM UNIT WILL BE $335.00 AND A TWO BEDROOM UNIT WILL BE $350.00 PER MONTH.
By Order of the Board of Directors