BALTIMORE COUNTY — Homeowners in the Coldspring Newtown community are grappling with significant increases in their homeowners association (HOA) fees, a change prompted by House Bill 107 aimed at reforming reserve funding for maintenance and repairs.
LaWanda Edwards, a resident of Coldspring Newtown for 25 years, expressed her feelings about the fee hike. “I wasn’t surprised; I just think we were blindsided by how much it was going to be,” she shared. Edwards, who cherishes the beauty of her community, has seen her HOA fees surge by 31 percent, now totaling $845.
VIDEO: Residents of Coldspring Newtown voice concerns over increased HOA fees
“It’s a beautiful place, and the upkeep has contributed to that beauty, but it comes at a price,” Edwards added, emphasizing the balance between maintaining aesthetics and affordability.
In a neighboring section of the Coldspring Newtown community, Dorthea Stierhoff, a resident for 36 years, is facing a similar situation. Her HOA fees increased by 15 percent last year and are set to rise by another 15 percent this year. “I never anticipated such a jump,” Stierhoff stated. “We have to pay a lot more in our condo fees than we would have with a normal increase.”
This recent wave of fee rises is a direct result of House Bill 107, legislation inspired by the tragic Surfside condominium collapse in Florida. The bill mandates that associations establish reserve funds to ensure future maintenance and repairs are financially covered.
While both Edwards and Stierhoff acknowledge the importance of having reserve funds, they express concerns about the steep increases. “A little more incrementally, so it doesn’t hurt people,” Stierhoff suggested, advocating for a more gradual approach to fee hikes.
“Maybe a little more staggered over time,” Edwards added, maintaining that while the fees are necessary for the upkeep of the community, they should not be a financial burden to residents.
Hope may be on the horizon for residents, as a bill currently under consideration in the Maryland Senate proposes to spread these fiscal increases over several years. If passed, this legislation could alleviate some of the financial strain homeowners are currently facing while still allowing for essential upgrades and maintenance.
As the community navigates these changes, residents like Edwards and Stierhoff continue to voice their concerns, hoping for a solution that balances the needs of the community with the financial realities facing homeowners.