If you would like to inform the members of your homeowners association that the budget has increased, here is a sample template you can use to write a HOA budget increase letter.
[Name of]Homeowners Association.
[State/ County]
Subject: 2021 HOA Annual Budget Increase.
Dear Homeowners,
The [name of] Homeowner’s Association has the duty of maintaining the standards of safety, appearance, and values for all homeowners residing in the HOA. The HOA board also plans for the legal fees, repair, and maintenance expenses required for managing the neighborhood.
This letter serves as a formal notification that [name of]HOA has decided to increase the yearly dues by $5 per home, making it a total of $ 385 for the year 2021. It is decided due to the increasing costs of landscaping, lawn care, insurance, and repair and maintenance.
The updated fees come into effect from August 2021.
From,
The Board of Directors.
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