“We had an annual spending about $200,000. This year our insurance went up by $8000, our management fees went up by $9,000, our deductible changed from $2,500 to $5,000. Not counting inflation these increases alone require 10% increase. So I raised the condo fees by 10%, and almost had a riot. I had to talk my lungs out, talking to people one by one, saying: OK, you tell me how you would handle these increases without raising the condo fees? They eventually decided to pay it, but my popularity did not increase with the fees.” |