Dear Exchange Lofts Owners,
Please note that the monthly HOA fees will be increasing by 25% effective January 1, 2025. A copy of the 2025 Budget and Fee Schedule can be viewed under the “Documents” section.
If you are currently on auto-draft directly through David Floyd & Associates, Inc., your monthly drafts will increase automatically in January. If you pay your HOA fees online, via mailed check, or via bill-pay, please be sure to pay the new amount going forward.
The HOA’s budgeted operating expenses have increased substantially over the last year, and the
HOA’s reserve study report (attached) indicates that reserve funding needs to increase significantly in order to be able to fund future capital expenditures. The Board is hopeful that incrementally increasing the monthly HOA fees over the next several years will help to limit the need for sizable assessments.
The monthly HOA fee rate at Exchange Lofts in 2025 will be approximately $0.29 per square foot, which will still be amongst the lowest monthly HOA fee rates in the downtown Nashville area. Not having amenities helps keep costs lower, but our historic building will require a significant amount of maintenance in the coming years.
If you have any questions, please email us at ExchangeLoftsNashville@gmail.com.
Thank you.
Regards,
David Floyd & Associates, Inc.
Managing Agent for Exchange Lofts HOA
