What are the monthly Avenbury Lakes Maintenance fees and what do they include?
Current fees are:
The monthly maintenance fee has two components: the Operating portion covers expenses to fund the day-to-day operations of the Homeowners Association and the Reserve Assessment portion is used for future repair and/or replacement of roofs, siding, concrete, asphalt and major expensed related to the common elements.
Operating expenses under Association responsibility include:
Staff costs covering full time Property Manager and part time Administrative Assistant, Maintenance Staff and Activities Director.
Landscape maintenance for the Common Areas.
Grass cutting, weeding and mulching of the beds around living units
Snow removal to include drive ways and walks
Pool operating costs and full time life guards for the outdoor pool.
Maintenance of all Common Areas
Maintenance of the 23 acres of Ponds & Wetlands
Reserve Assessment under Association responsibility includes:
Avenbury Lakes has a fully funded Reserve Fund. Its goal is to repair & replace major capital items in the normal course of use, without the necessity of special assessments. The funding schedule and the timing for the repair and replacement are based on an on-site study of Avenbury done periodically by Reserve Advisors, Inc., a national firm. The Association uses the Reserve Fund to maintain major capital items including, but not limited to, the following:
All Common Elements & Structures
All Unit Roofs and Siding
All Unit Drive ways
All Unit Gutters and Downspouts
Asphalt streets and walk ways
Concrete Sidewalks and patios