After being proposed in April by the United States Postal Service (USPS), the Postal Regulatory Commission (PRC) has approved rate increases beginning July 10, 2022. The proposed increase was approved to catch up with current inflation and most of the changes have been made to First-Class Mail®. The full rate changes can be viewed here but some of the key increases for HOAs are:
- First-Class Mail® is increasing 6.5% across the board (13.3% increase since 2020)
- First-Class Mail® Forever stamps increasing from 58 cents to 60 cents
- Certified Mail® has a proposed increase from the USPS not yet approved
Due to these increases, HOA costs for mailed statements, annual meeting mailings, and other postage will increase slightly. To curtail some of these additional costs, communities can utilize tech-forward management solutions. At City Property, we offer many services like paperless e-statements and electronic voting to reduce the amount of postage and provide cost-saving options to communities. If your community is interested in saving money with more paperless options, contact our management team to learn more.