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 Paid Assessment Letter Template 2014

Paid Assessment Letter Template 2014-2025 Form

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hi so today I'm going to be continuing my series of the ABCs of HOAs and we're going to be talking about the very important subject of special assessments it's important to understand this because it's going to in most condos that I know of at some point there might become a need for a special assessment and what is that actually so what happens is that the condo association will generally have some reserves that they set aside for some major fixes major expenditures that need to happen say all of the roof roofs need to be repaired or the decks and balconies and things like that so that may come up that there's a major repair that's needed but the association might not have enough reserves to cover that or might not want to completely use up all of their reserves just for that one project and so because of that there may become a need for what's called a special assessment so you're you're your normal monthly dues

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