Question: How much is reasonable annual dues or assessment for airpark residents and for what should the funds be used?
Sunrise Skypark, Idaho
Answer: How high is up?
There’s no right answer to this question. An airpark that doesn’t need much maintenance obviously doesn’t require as much of an assessment as one with lots of amenities that require constant funding.
Let’s touch first on what airpark residents are currently paying. Most airpark homeowner association dues are about $100 a month or less.
Those airparks with low fees end up with assessments for major projects and frankly, I find no problem with that. In other words, keep your money in your own account instead of building a big treasury for the association. The negative side to that is when an emergency comes up and everyone is hit with a hefty assessment, not everyone may be able to pony up easily.
If you buy into an airpark with a clubhouse, swimming pool, lighted runway and taxiways, lots of association owned grass and plenty of paved roads, taxiways and runway, you’ll need to do maintenance and that costs money.
Those aspects need to be taken into consideration when you are considering buying into an airpark project, If you want the amenities, you have to count on higher assessments or dues in order to pay for all that stuff. And remember, those additional positive factors to the airpark also require more taxes and those must be paid out of the association funds, too. If you understand that and are prepared to pay the necessary amounts, you will be OK.
As far as what the fees should be utilized for, most are obvious: taxes, insurance, maintenance of the infrastructure and amenities and improvements approved by the association.
Does your airpark have issues that you’d like me to address? E-mail me your questions.