L.C. from New Haven County, Connecticut writes: Dear Mister Condo, If a unit owner is displaced because of a fire in an adjoining unit are they liable for their common charges until they can move back into their unit? Mister Condo replies: L.C., unit owners are only liable for their own common charges. In other…
Search Results for: common fee
Condo Common Fee Delinquency Calls for Effective Collections
S.M. from Franklin County, Ohio writes: Dear Mister Condo, There are a lot of common fee delinquency problems due to a poor previous management company. My question is how do we collect effectively? Mister Condo replies: S.M., relying on your management company to collect delinquent common fees really isn’t a sound strategy unless the management…
Consumer Price Index Dictates Condo Common Fees
Dear Mister Condo, J.L. from South Carolina writes: I’m president of an 8-unit condo with no reserve. Current dues to each owner are $175, total, $1,400 monthly. By the time we pay all the routine bills and management $260/monthly, we are left w/ no money to do anything. I’ve tried to increase dues, but management tells me we…
How Are the Condo Common Fees Determined?
H.S. from Cook County, Illinois writes: Dear Mister Condo, Could you please explain how the monthly condo association fees are calculated? The property is a mixed-use, fourteen-unit building, 12 residential, and 2 commercial. Exhibit B clearly lays out the percent due of each residential unit and totals 100%. Then, it lays out the percent for each commercial…