How much are dues? $1,416.00 for calendar year 2021.
When do I pay my dues? Dues can be paid annually or quarterly by the 10th of the month. There is a $65.00 discount for annual payments made before February 1st when the account is paid in full. Late fees and interest are charged to payments received after the 10th.
What are dues used for? Landscaping (green segment), painting (orange segment), and commons repair savings (black segment) make up 94% of the typical annual budget. Click on photo below to enlarge.
Am I obligated to pay dues? As owner's our obligation to fund the Association is legally binding and contained in the Property Deed and the Deed Restrictions (CC&R).
How are the amount of the dues determined? Dues are calculated by adding up the following.
- the cost of the 16 mandatory services the association must provide as per the Deed Restrictions (CC&R),
- the mandatory annual savings required as per the Reserve Study, Deed Restrictions (CC&R) and Fannie Mae/mortgage holders,
- the cost of any additional projects approved by a vote of the owners.
How do our dues rates compare to other HOAs in Irving?
|Regency Park (C)||$0.52|
|Del Paseo (C)||$0.26|
|Turtle Lakes (C)||$0.25 - $0.30|
|Terrace Heights (C)||$0.23|
|Hidden Oaks (T)||$0.14 - $0.22|
|Bordeaux Villa (T)||$0.14 - $0.22|
|Las Brisas (T)||$0.10|
|Campana Village (T)||$0.09|
|Beverly Oaks (T)||$0.08 - $0.09|
Data from 2020
Can the association significantly cut costs without sacrificing quality?
There is a direct relationship between project costs, project quality, and volunteerism.
- Every owner wants well managed projects and respectable workmanship, but...
- the majority have never volunteered to supervise community projects,
- most prefer that the Association not spend money on a management company to supervise projects (it's expensive), and
- some would like to hire the cheapest contractors (who, contrary to #1, generally use inferior materials/do lower quality work and contrary to #2, and #3, require a lot of supervisory time.
When the Board has had active volunteers who were building relationships with reasonably priced/stable contractors, Beverly Oaks delivered good quality for a reasonable price. This has not been the case when when the association focused on cost cutting, volunteerism/supervision was low, and/or contractor turnover was high (contractors flaking out, conflicts with board or owners, and/or the work quality was too poor to rehire).
Do I have access to the actual budget, expenditures, and receipts?
Yes. The budgets and backup contracts, the reserve study, and the vote records are available via the "Budgets and Financial Reports" tab on this page.