COLORADO SPRINGS, Colo. — People who live in the Woodmoor Park community of Monument say the Homeowners Association's budget proposal for next year is concerning.
The property management company WSDM emailed residents to inform them that a monthly HOA fee could increase to 470 dollars from 370 dollars if a new budget proposal is approved.
"Wow, again?" said Kate Dalbey, who owns a townhouse in the Woodmoor Park community. "We just had an increase last year. We weren't entirely sure where all was going."
She says it's worrisome as a landlord.
"We love our renters. We would like to keep them. We are afraid if HOA fee goes up, we have to raise our renters' fee."
Dalbey says she doesn't want to lose her renters.
"220 per month back then," said Paul Rachal, another resident in the Woodmoor Park community.
Rachal says he's seen the property value going down.
"These units are selling for 400K and now it's going high three. I'm not quite sure what's going with it."
The property management company WSDM says the Woodmoor Park Homeowners Association needs funding to replace the roofs and repair several components throughout.
Dalbey says she understands the need for repairs, but she wants more transparent and detailed plan.
"If you are going to raise the budget in certain areas, perhaps, we can look at lowering the other areas," Dalbey said.
The community meeting with the board of directors and residents occurred at the Barn Community Center on Monday.
This is a developing story.
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