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Special Assessments are for emergencies that the condo fees can't cover...like a new roof. Gotta be careful...make sure the association is well established and funded for any contingency. Many associations keep the fees artificially low to make units affordable and then...BAM...the special assessments!!!
Special Assessments are for emergencies that the condo fees can't cover...like a new roof. Gotta be careful...make sure the association is well established and funded for any contingency. Many associations keep the fees artificially low to make units affordable and then...BAM...the special assessments!!!
Well the place was built in 2006 so hopefully they won't need any major purchases in the near future..
Thanks for the info though.. Will have to check it out further