We have been receiving questions regarding Home Owner Association dues which has inspired us to put in writing the following explanation to address these questions…
How much are the dues?
Our HOA dues for Phase One (Toucan Meadows) of OMV are presently $150 per share per year. There are 13 shares per standard villa footprint which equals $162.50 per month. A stand-alone 2 or 3 bdrm takes up double the space and therefore receives double the shares and pays $325 per month. They also have double the footprint and maintenance costs.
What does that cover?
It covers water, property taxes, a general insurance policy with INS (in process), food production and common area maintenance. We have 8 people right now working our gardens, chickens, goats, tilapia pond upkeep, landscaping, etc.. and as the community grows so will the number of employees. The HOA money also covers exterior maintenance of villas in Toucan Meadows, like paint, gutter cleaning, etc.
Regarding Toucan Meadows & Eagle’s Crest:
We have a unique structure which, with the proper planning, execution and the support of our residents, will literally pay our dues. Here’s how it works…
The developer is making money in only two ways… the sale of property & property rights, and through long and short-term rental income. This leaves all supporting businesses and land use to the people of the community. The HOA and OMV Business Network will work together to assess reasonable use fees from businesses in the network operating on and off the property that contribute to the support of the overall theme and vision of a sustainable food producing resort community.
Nothing is free or covered by the developer long term. The temporary BOD cannot say “yes” to one person’s request without doing so for everyone, which in turn will raise the dues for everyone. Any personal use items or items that can be maintained by the owner such as windows and termite prevention for example are the responsibility of the owner.
Regarding Howler’s Hillside & Pizote Flats:
HOA dues are $150 per month for custom homesite owners which allows them to use the community facilities and participate in the food distribution. The value of homesites is directly and positively related to the beauty and success of Osa Mountain Village as a community. Presently, lot owners are asked to pay only $50 per month until their home is built.
Regarding Amelia’s Estates:
HOA dues are optional for custom homesites located in the Amelia’s Estates area of the property. To participate in food distribution and use the community amenities the fee is $150 per month.
Our general thoughts about HOA’s:
Developers often estimate HOA dues as low as possible to make the sale easier for the buyer to swallow. On the flip side of that, clients often ask the developer to guarantee that dues will not increase. We believe developers who sign these agreements are taking a HUGE risk. The fact is, once a developer is done, it is 100% up to the Board Of Directors (BOD) – voted in by the people of the community - to manage and assess HOA dues. The OMV BOD will decide on any future HOA increases or decreases at Osa Mountain Village.
The Temporary Osa Mountain Village Board Of Directors