On November 9, 2023, the 2024 Budget for Horizons – Marina District was sent out to all Owners via mail and e-mail. Included in the Budget is the January 1, 2024, to December 31, 2024, Assessment Schedule which reflects your newAssessment amount.
In order to meet anticipated operating expenses, adequately fund the reserves, and maintain the common areas in a manner that enhances property values for all Owners, the Board of Directors have determined that a 6.09% increase is required to responsibly meet the Association’s financial needs in the upcoming fiscal year. The annual operating budget includes a 5% increase in the contribution to Reserves which is included in the overall 6.09% increase in the total budget.
Be advised that your monthly Assessment will increase as of January 1, 2024. Please carefully review “Exhibit B” beginning on page 19 of the Budget Packet for your Unit’s Assessment information.
For those that are not enrolled in autopay (automatic payments) through the Resident Portal/Revo, you will need to adjust your Assessment amount when submitting your payment via check or online. This is especially important if you utilize your bank’s bill pay option, as it most likely requires manual change. If you have automatic payments set up through Action’s Resident Portal, the amount that will be withdrawn will be automatically updated.
As the holiday season approaches and the spirit of gift giving grows, many Horizons residents want to thank the staff for their hard work throughout the year!
We have many team members that support this lifestyle and help keep the community clean and safe. Some of these people are very obvious — they greet us when we come and go, receive our packages and attend to our guests. Some are not so obvious – they clear the trash rooms, tidy our amenities and help keep the water and air conditioning running. They all have a job that affects the quality of life at Horizons.
If you would like to thank the team members that serve the Horizons Community with a monetary gift, please make a check (no cash please) payable to: Horizons HOA and mail or drop your check off to the Management Office.
Owners and Residents have the opportunity to provide monetary gifts in three ways:
1.Collectively, by submitting a check to the Management office. This “pooled” amount will be divided amongst all team members.
2.Individually, by submitting a check or checks to the Management office made out to the person(s) of your choice.
3. In-person, by handing gifts to individual team members of your choice
The amount you give is, of course, entirely voluntary and completely confidential. The amount distributed to each team member will be based on their length of service to the community. Your contribution will be distributed to the staff on two dates: Friday, December 8, 2023 & Friday, January 5, 2024. If at all possible, please make your contribution on or before December 8. Contributions made after the 8th are certainly welcome and will be issued January 5, 2024.
If you have any questions or if this is your first Holiday Season as a Horizons resident and would like assistance with your donation, you may email Yesly at ysotoleon@actionlife.comand she can provide you with information regarding the range of what other residents have historically donated in the past.
We thank you for your thoughtfulness and please accept our best wishes for a happy holiday season and a prosperous new year!
DO I NEED INSURANCE IF HORIZONS HAS A MASTER POLICY?
Yes! In addition to items that are not covered on the master policy, the Association’s Master Insurance Policy will not provide for other important coverage items that personal condominium policies offer. It is very important that all owners consult with their personal insurance agents to ensure that the proper coverage limits are in place. All owners are welcome to have their personal insurance agents contact the Association’s Insurance company to assist in discussing the potential gaps in coverage between the Association’s policy and the personal condominium policies.
ITEMS COVERED BY THE MASTER POLICY | The master hazard insurance policy primarily provides coverage for the common area elements of the Horizons community, and in accordance with Article 10 of the Association’s CC&Rs, it will not provide coverage for items located within the units. This means that in the event of a loss that exceeds the Association’s property deductible ($10,000), the master insurance policy will replace the unfinished surfaces of the residences only. It is the responsibility of each Owner’s personal condominium insurance policy to replace all other structural and non-structural items belonging to the Owner.
ITEMS NOT COVERED BY THE MASTER POLICY | The master policy for Horizons will not provide coverage within the residential units for items such as wall, floor and ceiling coverings, cabinetry, countertops, appliances, fixtures, personal property and belongings of the Owners including but not limited to furniture and electronics.
DO I NEED INSURANCE FOR WATER DAMAGE? WHAT IF IT’S THE HOA’S RESPONSIBILITY?
Example: A common drainage line backs up and overflows into two (2) residential units. Who is responsible for what?
While it is commonly thought that the Association is always responsible for damages resulting from common pipes, this is not the case as these loss incidents are typically sudden and unforeseeable. As a result, the Association’s responsibility would be to clear the problematic plumbing line, and each impacted owner would need to file claims on their individual insurance policies.
If the damages are high enough to the Association-insured property within the units (unfinished walls, unfinished floors and unfinished ceilings), the personal insurance carriers would contact the Association to request a claim be opened on the association insurance policy. Otherwise, the personal insurance policies would address all damages within the residential units in accordance with the Horizons CC&Rs.
Water damage is the single most frequently occurring type of damage within condominium high-rise communities. It is important that all Owners verify with their personal insurance carriers that the policies include coverage for plumbing backups that comes from both common area and non-common area sources. Examples of non-common area water damage can be from an icemaker supply line, shower, angle stop, exclusive-servicing plumbing line, etc.
Some carriers exclude coverage for plumbing and drain line backups from outside the unit unless the coverage is purchased for additional premium. All Owners need this coverage as the Association’s property insurance policy is not responsible for any interior damage beyond the unfinished surfaces of the Unit.
WHAT OTHER COVERAGE SHOULD I GET?
In addition to purchasing appropriate limits of building insurance coverage for replacement of the residential Unit interiors, all Owners should discuss coverage with their agents for the following items which are not covered by the Association’s policy:
Personal Liability coverage to protect owners from liability incidents within the residences.
Guest Medical coverage to provide no-fault medical coverage for incidents of personal injury to guests within the residential Unit.
Loss of Use coverage to collect funds associated with alternative living accommodations in the event of the residential Unit being uninhabitable due to loss.
Loss Assessment coverage to cover special assessments that may be levied upon the Owner in the event of liability for a loss.
Personal Property coverage to ensure replacement of personal items such as couches, TVs, desks, chairs, tables, computers, etc. in the event of loss.
Insurance help guides can be found on resident.actionlife.com > My Community > Documents > Insurance
