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New HOA Amounts for 2020


Hi Everyone:

At last week's board meeting, the Association approved a significant increase in HOA monthly dues for 2020. The new rates come closer to bringing the Lanai's budget to accurately reflect the costs of running this building in this frustratingly expensive market.

Among other things, the new budget will allow us to build a reserve for future roofing repairs, rebuild the reserve we spent on natural gas repairs, and fund a complete elevator replacement five years from now. The new rates should allow us to prevent any future special assessments ... unless something catastrophic happens in the near term.

In a perfect world, all future increases for the next ten years would only be related to cost-of-living increases. Obviously the world isn't perfect, so we'll see what the economy looks like as we move forward.

I want to personally thank Toby (our treasurer) and the entire board for diving into our finances and making a good decision (albeit painful) for the health of the Lanai. We are lucky to have lots of smart and brave people who participate in our community.

In looking at other buildings of similar size and age to the Lanai, I continue to believe we have built one of the strongest programs among our peers. We've made a lot of improvements over the last five years and with this increase we should be able to reset our financial strength and knock out our deferred maintenance over the next five years.


Final Rates
Unit ~ Percent ~ 2020 HOA
201 1.292% $606.48
202 1.076% $510.86
203 0.836% $404.62
204 0.741% $362.56
205 0.836% $404.62
206 0.861% $415.68
207 0.836% $404.62
208 0.741% $362.56
209 1.292% $606.48
210 1.292% $606.48
301 1.292% $606.48
302 1.292% $606.48
303 0.836% $404.62
304 0.741% $362.56
305 0.836% $404.62
306 0.861% $415.68
307 0.836% $404.62
308 0.741% $362.56
309 1.292% $606.48
310 1.292% $606.48
401 1.292% $606.48
402 1.292% $606.48
403 0.836% $404.62
404 0.741% $362.56
405 0.836% $404.62
406 0.861% $415.68
407 0.836% $404.62
408 0.741% $362.56
409 1.292% $606.48
410 1.292% $606.48
501 1.292% $606.48
502 1.292% $606.48
503 0.836% $404.62
504 0.741% $362.56
505 0.836% $404.62
506 0.861% $415.68
507 0.836% $404.62
508 0.741% $362.56
509 1.292% $606.48
510 1.292% $606.48
601 1.292% $606.48
602 1.292% $606.48
603 0.836% $404.62
604 0.741% $362.56
605 0.836% $404.62
606 0.861% $415.68
607 0.836% $404.62
608 0.741% $362.56
609 1.292% $606.48
610 1.292% $606.48
701 1.292% $606.48
702 1.292% $606.48
703 0.836% $404.62
704 0.741% $362.56
705 0.836% $404.62
706 0.861% $415.68
707 0.836% $404.62
708 0.741% $362.56
709 1.292% $606.48
710 1.292% $606.48
801 1.292% $606.48
802 1.292% $606.48
803 0.836% $404.62
804 0.741% $362.56
805 0.836% $404.62
806 0.861% $415.68
807 0.836% $404.62
808 0.741% $362.56
809 1.292% $606.48
810 1.292% $606.48
901 1.292% $606.48
902 1.292% $606.48
903 0.836% $404.62
904 0.741% $362.56
905 0.836% $404.62
906 0.861% $415.68
907 0.836% $404.62
908 0.741% $362.56
909 1.292% $606.48
910 1.292% $571.94
1001 1.292% $606.48
1002 1.292% $606.48
1003 0.836% $404.62
1004 0.741% $362.56
1005 0.836% $404.62
1006 0.861% $415.68
1007 0.836% $404.62
1008 0.741% $362.56
1009 1.292% $606.48
1010 1.292% $606.48
1101 1.292% $606.48
1102 1.292% $606.48
1103 0.836% $404.62
1104 0.741% $328.03
1105 0.836% $370.08
1106 0.861% $415.68
1107 0.836% $404.62
1108 0.741% $362.56
1109 1.292% $606.48
1110 1.292% $606.48

You will receive this same information in your mailbox, along with a reminder to ask your insurance agent to send over a copy of your insurance certificate to Joe in the office, and an updated annual pet form.
 
Gary Jugert, Lanai Condominiums
303-832-2188
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