J.L. from New Haven County writes:
Dear Mister Condo,
Do I have to pay common charges while the building is being re-built after a fire? The entire building is condemned and will take 6-9 months to re-build?
Mister Condo replies:
J.L., I am sorry for your loss. Fire damage and the resulting cleanup can take quite a long time for most communities to recover from. The short answer to your question is “Yes”, you do have to pay your common fees during the rebuilding period, even if it takes longer than projected. Here’s why:
When the annual budget is prepared, annual expenses are broken down into monthly installments. These installments become your common fees. Even though you may not have full use (or any use, for that matter) of the common elements during the rebuilding process, the association incurs the same expense it always does. Common fees pay for insurance, utilities, future improvements and so much more. These expenses continue even while the property is being restored after a fire.
I hope your association had all of the proper insurance in place when this disaster struck. The good news is that the association’s insurance should cover all or most of the damage. I wish you and your community a speedy recovery and no more disasters.