30 minute Educational Video

As can be seen in the chart above, the fees increases have moderated since 2009. The red line is the trajectory we were on, the blue is the actual. There were good reasons for the moderation after 2008 and it occurred because of new boards, improved financial controls and a lot of work by the boards of 2011 to 2018.  There is a link to an educational video in the post, which helps to explain.

The above chart shows the fees for the average owners from 2001 to 2018.  You will notice that fees increased each and every year from 2001 to 2008. In fact, for 20 years the annual fee increases were about 5-1/2% each and every year.  The final decade of these fee increases the average was more than 7% each year. The board was relentless and continued this even with a disastrous economy, rising delinquencies and foreclosures. The primary reason the fees moderated was because the board that instituted those fees was overthrown in the fall of 2008.  Were these fee increases absolutely necessary? I say no, and the blue line in the graph above shows the actual fees from 2009 until 2018.   Sadly, these relentless fee increases contributed to large delinquencies, foreclosures and eviction of owners. In 2011 the delinquencies peaked with nearly 21% of all owners delinquent and the fees owed reached more than $85,000.  Why in 2011?  In part because there is a delay to foreclosures, etc. Some owners held on as long as they could.

From time to time I gave owners a presentation at annual meetings, I began doing so in 2010-2011. This YouTube video includes the slides presented to owners at the annual meeting in the fall of 2016. It was not the first such presentation my me.  The actual presentation was "live" and prepared using my notes and slides.  I prefer that to "canned" presentations. The video was prepared using those materials. It starts slowly, but the pace does pick up.  This link was sent to management on January 2020 with a request to put it in the board packet for the January 9 association meeting:

"Hello Dave;

I’d suggest that all board members view this short,  30 minute video. Please provide to the board. https://youtu.be/_ui4nr44ldw    Thank You"

It is the board's responsibility as fiduciaries to be informed and act in the best interest of the owners. I can't force the board to view this video.Here is the video:

https://youtu.be/_ui4nr44ldw

Original material:  https://Briarcliffelakes.blogspot.com/