How to avoid “special assessments”
Hallcrest has had only one special assessment… and anticipates never having another. The solution is to have a substantial reserve account that funds problems like street paving, sidewalk repair and issues with community infrastructure. On a regular basis the Hallcrest Association schedules contractors to estimate the cost and work involved in addressing issues to ensure our reserves can support what is needed to do the job, should a problem arise. Our annual budget is based on making regular provisions for this. The specter of a special assessment is something that all real estate agents dread even discussing with buyers. When an Open House is scheduled, the Board will make sure that the agent fully understands our provision for this. It is one of the characteristics that sets us apart from many similar communities and makes Hallcrest such a desirable community to live in.