The Oaks Condo Fees & Governance

Oaks Condo Fees

Included in the monthly condominium fees are the following amenities:

• Indoor Heated 4-season pool

• Indoor SPA

• Tennis Courts

• Pickle-ball Courts

• Golf Pitching Area

• Shuffle-board Courts Clubhouse

• Ping-Pong Room

• Social Room (also available for residents' private functions)

• Kitchen Facilities

• Library (residents may check out books and movies)

• Shower Rooms (Men and Women)

• Walking Paths

The monthly condo assessment (a.k.a. monthly fees or dues) includes a portion for the current year's operating expenses such as Casualty and Property Insurance, Monthly Management Fees, Repairs, clubhouse and pool maintenance, grounds maintenance, clubhouse maintenance and the remainder for the future expenses (reserves) such as building painting, deck refurbishing, building, garage, and carport roofing, Grounds Landscape Renovations, and Road Resurfacing. To do the best possible job of determining the Reserve Account funding, the Oaks commissions a local engineering firm to provide a full reserve study of the next 30 years of needed funds. The latest complete study was done in 2024. Annual reviews are used between full studies to update the study based on new information. The latest full study is available on the Oaks IPM Website.

Beginning January 1, 2026, the current monthly condo fee is $560 per month. Each unit pays the same amount independent of size of the the unit.

The Oaks Special Assessment: Investing in Our Community's Future
On August 1, 2026, homeowners at the Oaks (a 198-unit condominium community at 1919 Haywood Road) voted 130 to 37 to approve a $15,000 per-unit special assessment (almost $3 million total). This decisive, nearly 4-to-1 margin reflects a community that came together to invest confidently in the long-term strength, safety, and value of the Oaks.
A Proactive Investment in Property Value
At the start of 2026, the Board took the initiative to engage an independent inspection company to evaluate eight major building components, including roofs, siding, decks, carports, and foundations. This forward-looking review, paired with the community's
most recent Reserve Study, gave the Board something few condominium communities have: a clear, expert-verified roadmap for the next 10 years — covering both short-term improvements and longer-term needs like roads as they approach the end of their useful life. This is the Oaks acting ahead of the curve. Rather than waiting for issues to become emergencies, the Board commissioned independent experts, quantified exactly what the
community needs, and is now fully funding both the improvements themselves and a healthy, replenished reserve fund. The result is a stronger, more resilient property and a Board and ownership base that owners and buyers alike can feel good about.
A Transparent, Owner-Driven Process
Before the vote, the Board and its Finance Committee held multiple community meetings to walk owners through the findings, cost estimates, and funding plan in detail. The 130–37 vote shows an ownership base that engaged with the information, asked questions, and chose to invest together in the property's condition and future value. Few communities can point to this level of informed, collective buy-in,
and it speaks well of the Oaks as a whole.
What This Means for Current Owners
Owners can move forward with clarity and flexibility:
 - The $15,000 assessment is the sole financial obligation of the current unit owner as of the assessment date.
 - Owners have flexibility in how they pay: installments beginning October 1, 2026 through December 2029, or payment in full sooner for those who prefer to close it out early.
 - If a unit sells before the assessment is paid in full, the remaining balance is
settled at closing — a clean, well-defined process that protects both buyer and seller. Responsibility for that payment can be negotiated between buyer and seller, with the current owner ensuring it's accounted for.
Why This Is Genuinely Good News for Buyers and Owners
A well-managed special assessment like this one is a mark of strength for the owners funding it and for anyone considering a purchase: 
 - The work gets done, and stays done. Owners and buyers benefit from a fully
resolved roof, siding, deck, carport, and foundation program, backed by
independent inspection, not a slow drift toward deferred problems.
 - The reserve fund comes back to full strength. A properly funded reserve
means future capital needs are covered by planned, predictable contributions
rather than surprise assessments. This is a direct protection for property values and owners' pocketbooks alike.
 - Buyers step in with a clean slate. Because any unpaid balance is settled at closing, buyers can purchase with full confidence that they're not inheriting this obligation, and sellers can list knowing it's clearly accounted for and disclosed.
 - The community is engaged, informed, and well-governed. A 4-to-1
approval margin is a strong vote of confidence — a signal to any prospective buyer that this is a community that pays attention, plans ahead, and takes care of what it owns.
The special assessment is an investment the Oaks is making, in itself, on purpose, with eyes open. That's exactly the kind of community that holds its value well over time.
What Happens Next
The Board's Building Committee is finalizing project specifications and identifying qualified contractors to ensure the best value for the work. A project manager is expected to be engaged to oversee the work and maintain quality control throughout.
The Committee will publish a schedule of planned work along with regular progress reports as milestones are completed, so owners can watch their investment take shape. Because all work is exterior and weather-dependent, some work is expected to begin in
Q4 2026, with the bulk of the project starting in late Q1 2027.
Questions?
For more information, contact Bill Anderson, Board President, at (904) 540-9649