Waterfront Community Lowers Monthly HOA Fees in a Rare and Positive Turn

St. Petersburg, FL, July 31, 2025 --(PR.com)-- In a move that stands out amid Florida’s rising insurance climate, Watermark, a boutique waterfront townhome community in Northeast St. Petersburg, has announced a reduction in its monthly homeowners association (HOA) fees. This decision, driven by a 19% decrease in the community’s property insurance premiums, marks a proactive step toward fiscal responsibility and homeowner value.

Nestled along the tranquil canals of Northeast St. Petersburg, Watermark is home to just 42 privately owned townhomes. Recently, the HOA Board of Directors initiated a comprehensive review of the community’s budget, reserves, and capital project requirements. After confirming that all financial obligations were not only met but exceeded, and with a major savings in insurance costs, the board unanimously voted to reduce the monthly association dues from $1,161 to $1,070.

This decision was not made lightly. Property insurance remains the single largest expense for most associations throughout Florida, particularly in coastal areas where risk of windstorm, flood, and hurricane damage drive up premiums. For many HOAs, insurance can consume 20% or more of an annual operating budget. However, by securing a more competitive policy and maintaining strong reserve funding, Watermark’s leadership has delivered significant relief to its homeowners.

Currently, 1625 Watermark Circle NE is listed for sale. This end-unit residence features two bedrooms, two and a half bathrooms, 1 car garage, and approximately 1,485 square feet of living space. The home offers privacy and water views, plus a bright, open layout and access to all of Watermark’s amenities: a swimming pool, sauna, pet-friendly walkways, and deep-water boating access with 14 slips. With the new HOA fees, the property’s monthly carrying costs have become even more attractive to prospective buyers.

Rachel Sartain Tenpenny, Broker/Owner of The Tenpenny Collection and a long-time resident of Watermark, serves on the HOA board and was instrumental in the financial review. “As a local Realtor for over two decades, I know property values are greatly impacted by monthly HOA fees,” she said. “As a board member at Watermark, I believe our job on the board is to protect the money of our homeowners and our property values. This is a great win for our community and hopefully sets an example for others to follow.”

The Watermark community’s action comes at a time when many Florida associations are facing increased dues and special assessments. This reduction, which saves each homeowner over $1,000 annually, represents a refreshing counter-narrative. More importantly, it reinforces the value of transparent financial stewardship and forward-thinking leadership in residential communities.

Watermark continues to stand out not only for its location and amenities, but now also for its fiscal management. The reduction in HOA fees sets a new bar in homeowner advocacy and demonstrates that with careful planning and a proactive board, associations can create meaningful, lasting benefits for their residents.