Introduction
Special assessments can be a financial burden for condo owners, but they’re often necessary to fund significant repairs or improvements. Understanding your rights and responsibilities is key to navigating these charges.
- What Are Special Assessments?
Special assessments are one-time fees charged by a condo association to cover unexpected expenses or major projects, such as structural repairs or amenity upgrades.
- Owners’ Rights
- Notice and Transparency: Owners must be informed about the purpose and amount of the assessment.
- Voting Rights: Depending on the condo bylaws, owners may have the right to vote on certain assessments.
- Dispute Resolution: Owners can challenge unfair assessments through mediation or legal action.
- Responsibilities of Condo Owners
- Timely Payment: Non-payment can result in fines or liens.
- Understanding Bylaws: Review your condo’s governing documents to understand assessment procedures.
Conclusion
Special assessments can be complex, but knowing your rights can help you navigate them effectively. Strang Tryson’s attorneys can provide legal guidance on condo assessments and other community association matters.
Contact us today for expert advice on condo law.
