But they do not have to join the golf club as equity members.Īpartment dwellers would not have access to any of the clubs, nor would they be required to join. At the Fountains, “The homes have not appreciated nearly as well as other homes in the county that are non-club communities,” Schachter said.Īs part of the deal with GL Homes, buyers of the new single-family homes only are required to become “sports members” of the Fountains club and pay about $200 a month in dues. And that, in turn, can depress home prices and limit the pool of interested buyers.
Still, it’s an added expense that figures into the price of a home.
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At the Fountains Country Club, the equity club membership is much lower, costing $3,000 to a maximum of $10,000, plus annual dues of about $10,000 for a couple, and other charges, Napieralski said. Some country clubs can charge $80,000 or more for equity membership. But, according to the community website, more residents want out of mandatory membership. When Artau ruled in favor of the seven associations, the Fountains became a community divided.įor now, some 750 equity members in 12 associations bear the burden of the club’s upkeep. The country club filed a countersuit, arguing the associations had no right to repeal. In a 2013 lawsuit, the communities said they were given the right to repeal mandatory membership when they agreed to it a decade earlier, in 2003.
But then seven associations wanted out, and litigation followed. For a time, membership in the Fountains Country Club was required for all 19 communities. This arrangement ensures a stready stream of cash flow to the club, proponents say. Mandatory membership is the rule for 12 of the 19 community associations.
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