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…
Category: Common Fees
Condo Special Assessment Money Reallocated
A.D. from Hartford County, Connecticut writes: Dear Mister Condo, Our condo board has admitted to keeping a portion of owner’s monthly and payoff payments designated for special assessment loans, and using them for other purposes. Can they do this? Mister Condo replies: A.D., well, apparently, they could and they did! The question is should they have…
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…
Compassionate Collection of Delinquent Condo Fees
J.D. from Broward County, Florida writes: Dear Mister Condo, I am Treasurer for my property. We are not a co-op. A unit owner cannot afford to pay monthly maintenance or assessment fees. The owner has stated such and sees no way they ever will be able to pay. The owner does say they will try…