NEWS & NOTICE OF MATTERS Edit page

First Amendment of the Amended and Combined Condominium Declaration of Quail Run.

Homeowners were mailed information regarding business of Quail Run Association on November 1^st, 2024.  The information is a proposed First Amendment of the Amended and Combined Condominium Declaration of Quail Run.  This business was included at the Annual Homeowner’s meeting on November 20, 2024. The Board of Directors' would like to that everyone who attended or returned their proxy in absence. 

The First Amendment of the Amended and Combined Condominium Declaration of Quail Run addresses insurance requirements of the Association.  As time has changed, we like others, have experienced custom policy quotes due to ambiguous articles found in most HOA governing documents. This results in surplus markets and premiums that have been at an all-time high. For equality to all owners, the declarations must define responsibility of our insurance needs as a collective and as an individual.

Please look for the mailing which includes a COUNTERPART FOR NOTARY VERIFICATION. The Board of Director's request that you return your notarized consent as soon as possible.   A copy of the form can be found under FORMS, GOVERNING DOCUMENTS and as an attachment to the calendar event on November 20, 2024.

CLUBHOUSE / POOL CARD / SALES / LATE /and RETURN  FEES UPDATED

Taking into consideration the actual costs experienced by the Association and risk of certain activities, the Board resolved the following fees.

The Board resolved to acknowledge these costs as additional costs connected to the acts of individual owners specific to their action(s) and not incorporated in the budget nor considered a benefit to all unit owners.  
VENDOR EVENTS OPEN TO PUBLIC OR EVENTS SERVING ALCOHOL REQUIRE EVENT LIABILITY INSURANCE .

MASTER INSURANCE PREMIUM PRICES

The 2024-2025 Master Insurance Premium is $601,086.29. Last year the same policy was $637,230.30 and the prior was $344,542.56.  Insurance costs for HOA's nation wide is the same while coverage decreased. Some HOAs are not being able to acquire a policy to cover community liability and losses. Colorado’s recent history of fires, hail damage and windstorms has taken a toll on homeowners specifically in HOA's. Then there is the issue that with home appreciation in Colorado going up and up, the amount of insurance required by the HOA increases and the affect is upward pressure on premiums. Operating costs in trash removal, water, lighting, gas, snow damage removal and landscape needs have increased statewide and all material and labor costs all will be absorbed by the HOA. Last year’s assessment is simply not enough to pay for the upcoming year.

Maintenance of community property: The clubhouse, pool, tennis court, and other amenities must be maintained, and of course the cost continues to go up. HOA's  have maintenance responsibilities for painting , replacing trees, street maintenance, home roofs, cleaning the grounds, and general building repairs : these costs continue to rise rapidly. The HOA's budget proposal will reflect cost increases for 2024-2025 at a 9% increase respectfully. 

BUDGET 
The Board of Directors has adopted the proposed budget for the November 1, 2024 thru October 31,2025 fiscal year. Beginning on November 1, 2024 the Association will increase the monthly assessment by $ 40.00 to $480.00. The 2024-2025  budget has been ratified until further notice. It is your responsibility to notify the office with any change to your mailing address, phone number or email for future mailings and communication. 

FHA CONDO CERTIFICATION Notice of FHA Condominium Approval: QUAIL RUN, ID D008075 001 , the FHA condominium review of the Quail Run Association condominium project is APPROVED ,  the expiration date is 2/7/2027 .  FHA insures condominium single unit loans for up to 30-year terms to purchase or refinance a unit in an FHA-approved condominium project. Understanding the value of this insurance to unit owners , our application for certification has been approved. For more information please visit HUD.gov. 

ANNUAL DISCLOSURES
Quail Run Association Inc.
Self Managed - Community Association Manager Christine DeMoss 
Located at 1223 S. Zeno Way Aurora CO 80017 Phone : 303-368-8756
Discovery at Quail Run / Townhomes at Quail Run 
Arapahoe County :  Reception numbers :  To QUAIL RUN QUAIL RUN ASSOCIATION 10/31/2017 DECLARATION OF CONDOMINIUM OR RECEPTION : D7123757 - OR 
FISCAL YEAR IS FROM NOV,1 2024 TO OCT 31,2025
FINANCIALS AND INSURANCE INFORMATION ARE LOCATED UNDER GOVERNING DOCS.
REGULAR ASSESSMENTS ARE 480.00 PER MONTH