Tagspecial assessment

September 2017 Condo Association News Roundup


Happy Fall!  Hopefully the equinox is bringing good tidings to your Condo Association.  September has seen hurricanes pummeling Florida and Texas, with impacts to Condo Associations.  Our thoughts and prayers go out for a speedy recovery to those communities. Included in the September 2017 Condo Association roundup are articles on the hurricanes, an update on the sinking Millennium Tower, and the...

Four Condo Association Special Assessment Questions To Determine Project Cost


Having determined the timing of a Special Assessment through your incredible detective skills (powered by ), the next logical question you’ll want to ask is how much will the Special Assessment cost.  Knowing it’s coming is one thing, but its cost is quite another.  Similar to the previous article, these are Condo Association Special Assessment questions you have a right to ask.  Whether or not...

Three Condo Association Special Assessment Questions To Determine Project Timing


An informed and involved Owner will often attend monthly Condo Association meetings.  If your Board has been discussing big projects during meetings, you might start to wonder if things are going well or not.  Sometimes work is routine, but other times there might be a rough road ahead.  When a Condo Association Special Assessment is looming, there are several things you need to do as an Owner...

Condo Association Special Assessment Preparation for Owners


One of the scariest and impactful things that can happen to a Condo Association Owner is the dreaded Special Assessment.  Special Assessments are caused by a number of things – poor budgeting, unexpected repairs or perhaps deferred maintenance from a Condo conversion.  This can be a very disruptive time, but as an Owner, you have some options.  Here are steps to help you with Condo...

What to Do if Your Condo Association Special Assessment Vote Fails


At this point, we’ve discussed the need for a Special Assessment in great detail.  You’ve done all of the work, but your Owners rejected your plan.  We’ll assume for the sake of this article that the work simply must be done, so we’re going to discuss what your options are to move the ball forward if your Condo Association Special Assessment vote fails. Assess Why you Failed If you only failed by...

Condo Association Special Assessment Guide for Owners


Continuing the Special Assessment series, today is the Condo Association Special Assessment Guide for Owners.  You’ve just been handed the news that you’re either obligated to pay a big check or there will be vote to hand over a big check.  Your first instinct is most likely going to be to fight and resist.  In some circumstances, you’re justified in fighting and resisting.  But in most cases...

How to Conduct a Condo Association Special Assessment Vote


For many Special Assessments, you need your Owners to vote with a two thirds majority in order to raise the funds you need to repair your decaying infrastructure.  Now that you’ve got your plan and your communications strategy, you now need to develop your “ground game” for your Condo Association Special Assessment vote.  You can find a great outline of activities for communicating...

How to Communicate a Condo Association Special Assessment


Now that you’ve figured out your plan for your Special Assessment, you need to communicate it to your Owners, and in some cases, you may also need to hold a Condo Association Special Assessment vote.  This guide is focused on how you communicate a Condo Association Special Assessment to your Owners.  This is one of the trickiest parts of a Special Assessment.  To effectively make your case...

Financing a Condo Association Special Assessment


Now that you’ve got an idea of what condition your Condo is in, you need to figure out how you are going to handle the “Assessment” part of the Special Assessment process.  This is the step where you figure out how you’re financing a Condo Association Special Assessment.   How Much Do You Need? Typically you want to assume the cost of the project, plus enough to cover any delinquency, plus...

Evaluating your Condo Association’s Condition before a Special Assessment


A correctly performed Condo Association Special Assessment is one that is not done in haste, but rather after thorough and exhaustive research that demonstrates a Special Assessment is the best path forward.  One of the most critical steps in this process is having a firm grasp of the condition of the major systems within your Condo Association.  For many established Associations, you already...

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