Can a condo owner be charged thousands of dollars for repairs made to the grounds around the building?
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Can a condo owner be charged thousands of dollars for repairs made to the grounds around the building?
If a condo owner pays their monthly fees can they be charged thousands of dollars to do repairs to the grounds around the complex?
Asked on November 7, 2011 under Real Estate Law, Kentucky
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Yes, a condominium owner who pays his or her monthly dues can be assessed additional monies by the association to cover repairs needing to be made to the grounds. The reason is that due to the economic down turn many homeowners have failed to pay their assessed fees and/or let their properties fall into foreclosure.
As a result, many reserves of various associations simply are not enough to cover required repairs mandating increased assessments to the homeowners.
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