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What's included in an association assessment fee?


Author's Note

Association assessments demonstrate the ounce-of-prevention-versus-pound-of-cure truism. Unless the condo owner is a would-be Vegas gambler, paying small incremental increases as part of monthly fees seems preferable to the risk of being hit with a four-digit assessment.

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Sources

  • Association Reserves, Inc. "Reserve Study or Reserve Funding Legislation by State." December 2011. (July 13, 2012) http://www.reservestudy.com/legislation
  • Gundersun, Amy. "Home Away: Special Assessments: When Your Board Wants More of Your Money." The New York Times. April 11, 2007. (July 10, 2012) http://query.nytimes.com/gst/fullpage.html?res=990CEEDE123FF932A25757C0A9619C8B63
  • Illinois Legal Aid. "Collecting Assessments From Delinquent Condominium Owners." (Nov. 2010) (July 10, 2012) http://www.illinoislegalaid.org/index.cfm?fuseaction=home.dsp_Content&contentID=7712
  • Lending Tree. "A Beginner's Guide to Condominiums." (July 8, 2012) http://www.lendingtree.com/smartborrower/buying-a-home/finding-a-home/beginners-guide-to-condominiums/
  • Morris, William. "It's the Law: Condo Assessments Must Be Paid." Marconews.com. Feb. 11, 2008. (July 8, 2012) http://www.marconews.com/news/2008/feb/11/its-law-condo-assessments-must-be-paid/
  • OwnACondo.com. "Condo Assessments." (July 10, 2012) http://www.ownacondo.com/Assessments.aspx
  • Pirraglia, William. "What Are the Duties of Condominium Boards?" San Francisco Chronicle. (July 23, 2012) http://homeguides.sfgate.com/duties-condominium-boards-6908.html
  • Senay, Kay. "Condominium Assessment -- I Just Keep Paying!" (July 10, 2012) http://condo-condominium.com/Articles/CondominiumAssessment.html
  • Thompson, Richard. "An In-Depth Look at Reserve Funds." Florida Community Association Journal. (July 13, 2012) http://flcaj.com/content.cfm?articleID=304
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