IMPORTANT – notice/reminder regarding Dues effective Feb 1, 2025

While performing some routine maintenance on the Ridgeview website, I noticed that a post sent regarding the dues for 2025 did not appear on the website.  When posts are sent in this form, they are automatically posted to the website.  Posts not appearing in the NEWS section of the website is an indication that the emails to all owners of those posts did not transmit successfully.  Please accept my apologies for not noticing sooner.  

If you prepaid your dues already for a portion of 2025 that doesn’t reflect the Feb dues increase, please adjust your next payment accordingly.
Some of you paid the expiring assessment in full years ago or pay dues in advance.  If you have a check already mailed or processed by your bank for auto payment that will underpay your Ridgeview account, do not worry, we will not apply a late fee if we receive a check from you for the prior dues amount – your adjusted check for March will maintain your account as current.  
ORIGINAL POST:
Greetings All,
In 2021, when the roofs were replaced throughout the community, we sent notice to all owners of the assessment and shared at that time that the assessment would expire after the payment due on or before January 1, 2025.  We also promised to do our best to refrain from dues increases until the payment due on or before February 1, 2025.  We were able to manage cash flow so that there were no dues increases in the interim, even though we have had significant increases in expenses over the past few years, including approximately $60,000 spent on pool surface repairs and leaks, as well as substantial increases in contracts for landscaping, pool management services, master casualty insurance and external pest control.
The dues portion of your monthly payments (NOT including assessments) has been $165.00 since February 2019.  At that time, $165 per month was the amount that was just enough to cover the budgeted necessary expenses, that amount did not include any reserve funding or ancillary services that the owners have been offered, but declined to accept for the past decade.  In an effort to minimize the impact of an adjustment in dues, we have limited the current increase to minimize the impact on your personal budgets.  Our budget for 2025 is the least amount possible that we “hope” will be enough to cover the coming increase in insurance premiums.  Our policy renews on July 5, 2025, assuming the same company continues to underwrite coverage in NC after the losses during Helene.  Many companies exited the Condo market in NC prior to Helene, making it difficult last year for us to find coverage at a reasonable price.  After seeking quotes from 9 different providers, some were unwilling to quote or informed us that they had exited the market since we had last requested a quote, we were able to secure favorable coverage for the current policy that was tens of thousands less than the next closest quote.  So we are anxiously awaiting quotes for this year and hoping our current underwriter remains in the market and suffered limited exposure to storm claims.
To catch up to the current projected costs of necessary expenses requires dues of $240.00 per month that is due and payable on or before February 1, 2025.  If you did not attend the annual meeting and have already mailed a check for February for an amount other than $240.00, please adjust your payment for March accordingly.  Please only send one check in the amount of $240.00 going forward, as the assessment ended with the check due on or before Jan 1, 2025 and $240.00 is the new amount of dues to cover the monthly contracted services and necessary expenses of the association.  
We hope you everyone’s new year is off to a great start. 

Post expires at 4:51am on Monday February 24th, 2025

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