Important updates in HOA fees - Maryland

House Bill 107 (HB 107) is new legislation in Maryland that mandates increased Homeowners Association (HOA) and condominium fees to create reserve funding for future maintenance and repairs. Key points about this legislation include:

• Inspired by the Surfside condominium collapse in Florida
• Applies to all condominiums and HOAs in Maryland
• Aims to ensure communities have adequate funds for major repairs and maintenance
• Has led to significant fee increases in some communities, with reports of up to 31% increases
• Some residents are concerned about the sudden and substantial nature of these increases

A pending Senate bill proposes to spread out these fiscal increases over several years to provide some relief to residents while still ensuring proper funding for maintenance and upgrades.

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