Annual Dues Update, Oct. 2018

“Homeowners at River Run and the Cottages at River Run pay annual dues.”

“Annual dues are currently $525.00 for homes in River Run and $315.00 for homes in the Cottages at River Run.”

“The Board of Directors has authority to establish dues under the HOA By-laws. The amount of dues are typically considered annually and were last raised for 2017. Dues were not changed for 2018.”

“Dues are billed in January of each year. M-T Management, among other business services they provide, manages the billing process.”

“Dues are subject to $10.00 per month late charges and late charges begin accruing if the dues are not paid by February 1st.”

“Unpaid dues, late charges and costs to collect dues all become liens on the property until paid.”

“For severely delinquent dues and late charges, the HOA Board, at their discretion, will file formal evidence of the lien in the Spokane County property records. The homeowner is responsible for additional charges to formally file.”

“The Board has authority to levy special assessments to cover extraordinary items (a failed irrigation system or large legal fees for instance).  A special assessment has not been charged in the history of River Run and the HOA holds modest reserves to cover extraordinary items and avoid special assessments if possible.”

“Dues are used primarily to maintain the common areas (parks, swales and street trees).”

“Dues do not cover snow removal. River Run and the Cottagers at River Run are served by city streets and the City of Spokane is responsible for snow removal.”

“A more detailed historical and forecast budgets are available on this Web site if you are interested.”