E.J. from outside of Connecticut writes:
Dear Mister Condo,
We recently purchased a foreclosed unit. Just prior to the foreclosure being finalized the unit was badly damaged in a fire, originating from the unit below. There is damage to our unit which is being repaired. Am I correct in assuming that the condo fees will abate until the unit is habitable?
Mister Condo replies:
E.J., I am sorry to say that you are not correct. I am sorry that you have suffered a loss in the form of fire damage but that is what insurance is for. Common fees continue unless the Board has decided it will not rebuild the unit (unusual). Your common fees pay for far more than just your unit. All of the common grounds are maintained, reserve funds are built, and all of the day-to-day expenses of property management and maintenance continue. Your common fees are part of the pooled common fees that pay for all of these expenses. Should you elect not to pay them, the association is then forced to pursue you for collection, up to and including, foreclosure on your property. You certainly don’t want that to happen. You should continue to pay your common fees and encourage the association to get your unit in good working order as quickly as possible. Good luck!