Condo values at risk in HOA cost-cutting?

Owner questions decision to axe fountain

Q: For the past seven years we have owned a condo on a golf course that we rent out to supplement our income. It is an older community built in the early 1970s, but still is a desirable place to live with a good reputation. However, due to the poor economy and an increase in the number of delinquencies that have reduced their assessment income, the association is implementing some new cost-saving measures that have us concerned.

Right near our particular unit is a very attractive fountain with a natural rock waterfall and a large pond. To date this has been well maintained by ourselves and the owner before us. We have always considered it part of our property because the association has never maintained it. We have retained and pay for a service company that performs a quarterly maintenance program that keeps the water feature clean and operating properly. We even paid for a new motor and pump for the fountain only three months ago.