Question about HOA fees in Buckhead: have they really gone up that much in 3 years?

Honestly I just pulled my old HOA statements from 2021 when I bought my place near Piedmont Park and I was paying $285 a month. Now in 2024 it's $375 and I'm trying to figure out if that jump is normal for the area or if my board is just spending like crazy. Some neighbors say it's the insurance costs going up but others think the board is padding reserves for a new clubhouse. Anyone else around Atlanta see their HOA shoot up by 30% in 3 years?

2 comments

2 Comments

faith_torres833d ago

My building near the Battery went from $310 to $420 over 3 years and it was honestly all insurance. We got hit with a 40% jump in master policy premiums last year because of all the condo lawsuits happening downtown. Our board was transparent about it though, they showed us line items at the annual meeting which shut up the people claiming they wanted a new pool. I'd ask your HOA manager for a breakdown of operating expenses vs capital reserves. If they balk at that, that's a red flag. We also switched to a different insurance broker and saved like 8% this year so sometimes it's worth pushing back.

oscarmurray2d ago

Funny you mention that, @faith_torres83, because I'm pretty sure my HOA board SITS on a dragon's hoard of cash and just likes watching us squirm. Our meeting last month had a guy screaming about a 15% increase and the treasurer just shrugged and said "inflation." I asked to see the operating expense line items and got a blank stare plus a promise to email it "next week." Still waiting on that email from March, actually. Maybe I should start a betting pool on when it'll arrive, I'd make more money than I'd save.