Assessments & Current Finances

The Waterford Villas monthly assessment is in three parts:

1. The basic assessment in 2024 is $213.00 per month. This assessment is for current operating expenses including:

• Lawn, bed and tree care - Mowing, trimming, shrub and tree trimming, mulching, fertilization and disease control.
• Irrigation of all lawn and bed areas and maintenance of irrigation system
• Building exterior painting including uncovered decks
• Power washing of the building exterior, decks and posts
• Staining of decks and posts
• Building exterior maintenance and repairs
• Snow removal from streets, driveways and sidewalks
• Trash pick-up
• Shrub and tree replacement as necessary
• Decks' staining and maintenance
• Termite inspection and treatments if necessary
  

2. A reserve assessment of $106.00 per month in 2024. This part goes into a reserve account to help offset future major expenditures such as roofing, siding, deck, gutter and downspout replacements, driveway and sidewalk replacements, etc.

3. An insurance part that is the homeowner's share of the Association's Master Insurance Policy premium. The master policy provides hazard and earthquake insurance for each building. The only additional insurance the homeowner should purchase is "condo insurance" (Missouri form HO-6) to cover personal liabilities and contents (items someone would bring in a moving truck), and Master Policy deductibles. The individual homeowner's premium share is based on his/her unit's value in proportion to the total value of all 62 units. In 2024 the average premium share is $88.00 per unit per month, paid in twelve equal payments.