The initial monthly HOA dues will be set at US$200.00 per month for the first two years after completion of the villa, for those units that are participating in the rental pool. For buyer’s not participating in the rental program, the HOA dues will be set at US$400.00 per month. After the first two years the HOA will be set annually thereafter based on a budget established by the Directors of The Banks at Sleeping Giant Limited.
HOA fees are to cover all common expenses such as security, concierge service, the maintenance of the common areas within The Banks such as the road right of way and gardens, the swimming pool and surroundings, and the river deck, but not any costs associated with the operation, maintenance or repair of the individual Units.
There is a Resort Fee component of the monthly HOA dues of US$50.00 to ensure property owners of The Banks have access to neighboring resort facilities of Sleeping Giant Rainforest Lodge and amenities at Sleeping Giant Rainforest Estates through a separate agreement.