M.Y. from outside of Connecticut writes:
Dear Mister Condo,
I live in a condo which more than 70 units. The HOA has come up with an assessment for repairs of $4,250.00 for each owner. Can they make exceptions if some owners say they don’t have the money? Shouldn’t every owner have to pay their share; and can owners insist that the Board post the name’s and amounts that each owner has paid? Thank you for your help in this matter
Mister Condo replies:
M.Y., the dreaded Special Assessment has hit your condominium association. Too many repairs that were not properly budgeted for years ago. Now, some unit owners can’t or won’t pay? The Board thinks they can excuse some unit owners? They are wrong! Special assessments must be levied equally across the association. All units are subject to the assessment and it should follow the percentage of unit ownership formula, meaning that the assessment is levied in the same way common fees are determined. Unless all of the units are paying the same in common fees, the assessment should reflect the same characteristics. Your Board should consult the association attorney if they don’t understand this concept. An assessment that is passed or levied improperly can be challenged by any other unit owner and would have to be removed and then reassessed, creating chaos and undue additional financial burden. They would be well advised to do it right the first time. All the best!
1 thought on “Condo Board Excuses Some Unit Owners from Special Assessment”
When Condominiums first came into existence. People couldn’t buy them fast enough. Now these associations are 30 years of age and older and due to lack of nsintenance over the years these buildings now require major work. Million dollar loans are certainly reality. And you will find there are unit owners who can’t afford the payments