New Management Company
Grand lakes HOA will be transitioning to a new management company. The board has informed Elite that we do not intend to renew our contract and we have negotiated with a new Management company called Beacon. We currently plan to complete the transition by March 1, 2025. As residents, this will mean you will have to set up new account in beacons software and establish new billing information. More information on that will follow as we get access to Beacons system. We expect there may be some disruption during the transition period. We ask that residents are patient with the board and the new management company as we transition.
2025 Board Election
We will soon be holding the annual election for HOA board members. Three seats are up for election this year. Samuel Hilson (communication officer), and Teddy Schell (president), have indicated that they will run for re-election for another 2 years in office. The third seat up for election is the secretary. Our elected secretary has moved out of the neighborhood. Joti Locker has been serving as the interim secretary but does not intend to run for this seat.
The board is looking for any interested home owners that would consider volunteering for serving a term on the board. If you are interested be send an email to board@grandlakehoa.com with a brief bio that could be used to introduce you as a candidate to the community.
We will once again hold an electronic vote though our community site. Once the vote is ready we will send out a notice to all residents to vote. The vote will close at the end of the second week in February and the results will be shared at the annual community meeting on February 17th at 6:30pm.
2025 Budget
The 2025 budget is currently forecast. However, a very important note, the balloon loan for the community debt is going to renew this year in July. Because of this, we are not able to guarantee this budget is correct. If the renewal of the loan does not go well we may need to make adjustments. The current plan is to keep dues the same for this year and address changes to the debt service in next years budget unless the changes are drastic and the HOA is not able to cover the changes. If this does occur we may need to do a special assessment. The board will keep the community informed of how the negotiations proceed.
| Grand Lake HOA | ||||||||
| Proposed Budget | ||||||||
| 2025 | Proposed | |||||||
| Budget | Budget | YTD Actual | ||||||
| 2025 | 2024 | 10/31/2024 | Notes | |||||
| INCOME | ||||||||
| Association dues - $700/yr | $ 118,300.00 | $ 118,300.00 | $ 112,239.00 | |||||
| Clubhouse Rental | 1,900.00 | 1,900.00 | 1,950.00 | |||||
| Late fee | 1,500.00 | 1,500.00 | 2,820.00 | |||||
| Violation fine | 0.00 | 0.00 | 2,041.75 | |||||
| Key fee | 0.00 | 0.00 | 225.00 | |||||
| NSF fee | 0.00 | 0.00 | 0.00 | |||||
| Legal fee | 0.00 | 0.00 | 803.25 | |||||
| Interest Income | 0.00 | 0.00 | 437.30 | |||||
| Other Income | 0.00 | 0.00 | 23.00 | |||||
| Closing fee | 0.00 | 0.00 | 0.00 | |||||
| Total Income | $ 121,700.00 | $ 121,700.00 | $ 120,539.30 | |||||
| SEA WALL RENOVATION - RESTRICTED | ||||||||
| Loan Debt Service - $809.91/m x 12 | $ 9,707.00 | $ 9,707.00 | $ 8,210.42 | |||||
| EXPENSES | ||||||||
| Property Management | ||||||||
| Property Management Fee | 11,661.00 | 12,168.00 | 10,115.00 | Beacon $5.75 per door | ||||
| Postage | 2,100.00 | 2,272.00 | 1,613.00 | |||||
| Total Property Management | $ 13,761.00 | $ 14,440.00 | $ 11,728.00 | |||||
| Landscaping | ||||||||
| Landscaping Contract | 18,940.00 | 18,940.00 | 14,842.00 | Increase by $1k per year; keep last years budget amount | ||||
| Aqua Systems - Lake Algae Treatment | 0.00 | 0.00 | 0.00 | |||||
| Bushhogging | 375.00 | 0.00 | 300.00 | |||||
| Landscaping - Other | 0.00 | 0.00 | 93.24 | |||||
| Irrigation System Repair | 1,000.00 | 550.00 | 273.49 | |||||
| Hardscape Repair & Improvements | 750.00 | 0.00 | 0.00 | |||||
| $ 21,065.00 | $ 20,690.00 | $ 14,889.00 | ||||||
| Clubhouse | ||||||||
| Cleaning Services | 2,000.00 | 2,250.00 | 1,859.62 | |||||
| Consumable Supplies | 350.00 | 250.00 | 265.24 | |||||
| Pest Control & Termite Service | 625.00 | 500.00 | 250.00 | |||||
| Security Camera Replacement | 500.00 | 500.00 | 0.00 | |||||
| Emergency Exit Install - Pool | 750.00 | 800.00 | 360.95 | 2024 Paint and Supplies Clubhouse | ||||
| HVAC Service and Repair | 5,000.00 | 5,000.00 | 3,368.72 | 5% increase projected | ||||
| Clubhouse General Maintenance & Repair | 3,229.00 | 2,925.00 | 3,075.16 | Approx 5% increase | ||||
| Clubhouse Paint | 4,125.00 | 4,125.00 | 3,299.36 | |||||
| Insurance | 16,579.00 | 16,350.00 | 12,479.05 | |||||
| Real Estate Taxes | 2,925.00 | 2,650.00 | 2,784.00 | |||||
| Utilities | 4,125.00 | 6,300.00 | 3,330.33 | |||||
| $ 16,350.00 | $ 18,550.00 | $ 15,269.64 | ||||||
| Pool | ||||||||
| Pool Maintenance Contract | 5,200.00 | 5,200.00 | 3,990.00 | |||||
| Pool Chemicals | 4,810.00 | 4,500.00 | 4,538.20 | About a 6% Increase | ||||
| Pool Repairs | 650.00 | 650.00 | 325.00 | |||||
| Pool Supplies | 150.00 | 150.00 | 0.00 | |||||
| 10,810.00 | 10,500.00 | 8,853.20 | ||||||
| Community Events | ||||||||
| Craft and Party Supplies | 150.00 | 250.00 | 0.00 | |||||
| Association Events | 250.00 | 500.00 | 49.01 | |||||
| 400.00 | 750.00 | 49.01 | ||||||
| General | ||||||||
| Loan Payment | 24,800.00 | 23,385.24 | 19,487.70 | Approximate 6% increase; loan balloons May 2025 | ||||
| Bank Charges | 0.00 | 0.00 | 25.00 | |||||
| Other Admin | 0.00 | 0.00 | 0.00 | |||||
| Legal | 1,250.00 | 1,500.00 | 900.00 | |||||
| Internet/Email Services | 1,625.00 | 1,800.00 | 1,273.87 | |||||
| 27,675.00 | 26,685.24 | 21,686.57 | ||||||
| Capital Improvements | ||||||||
| Lighting and Plugs - Clubhouse | 0.00 | 0.00 | 953.13 | |||||
| Pool Liner Replacement | 0.00 | 0.00 | 7,075.00 | |||||
| Pool Bottom Repair | 0.00 | 0.00 | 1,400.00 | |||||
| Transfer From Reserve For Pool Expenses | 0.00 | 0.00 | (8,475.00) | |||||
| Technology Improvements | 1,250.00 | 0.00 | 0.00 | |||||
| Clubhouse Furnishings | 1,000.00 | 0.00 | 321.08 | 2024 Prints and Frames Clubhouse | ||||
| Pool Furnishings | 850.00 | 850.00 | 0.00 | |||||
| 3,100.00 | 850.00 | 1,274.21 | ||||||
| Additional Principal Payments on Debt | $ 15,000.00 | $ 15,000.00 | 8,750.00 | |||||
| Transfer to Reserves | $ 3,603.00 | $ 3,277.76 | ||||||
| Total Expenses | $ 121,700.00 | $ 118,250.00 | $ 87,919.76 | |||||
| Net Cash Flow | 0 | $ 3,450.00 | $ 32,619.54 | |||||
| Seawall Repair - Remaining Loan Proceeds | $ 23,989.00 | $ 23,989.00 | $ 23,989.00 | |||||
| Total expenses including debt service | $121,700.00 | $118,250.00 | ||||||
| Expenditures per household (169) | $720.12 | $699.70 | ||||||
Arc Compliance
As a reminder to the community, it is essential to submit a proper ARC Request for any Improvements or changes to your property. Adding a Fence to your property also requires an ARC request. Additionally, the community guidelines detail the allowed stain colors for fences. Residents can find the Fencing Guidelines listed on our Residents page. Residents can submit an ARC request through the AppFolio Portal provided by Elite Housing Management. Residents should also remember to read the Grand Lake covenants concerning street parking.
HOA Board Meeting
Our Neighborhood HOA board meets monthly on the 3rd Monday of the month at 6:30 pm. These meetings are open to all homeowners who wish to attend.
To help make sure that all discussion topics are covered, the board asks if you are attending for a specific issue for discussion that you email communication@grandlakehoa.com with a brief description/explanation at least 24 hours before the board meeting so the agenda can be updated and the board can provide time for you to speak about any concerns or issues you are having.
2023 Board Members:
Teddy Schell (President)
Tim Horning (Vice President)
Ela Perry (Treasurer)
Joti Locker (Interim Secretary)
Sam Hilson (Communication)