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The condominium assessment established by the developer or by the board of directors covers payment for services and maintenance of the property owned in common by all unit owners of the condominium association.
Examples are:
- Sewer and water
- Building insurance
- Landscape maintenance
- Building maintenance
- Staff payroll
- Property management
- Reserves (a savings account built up over time to replace major structural elements: roofs, doors, elevators, etc.)
Every condominium's assessments cover different services and maintenance items. You can request a list from your treasurer.
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Your condominium assessed and extra amount because your reserve is at zero - you need extra money for building repairs - can you file a lien for condominium special reserve amount assessed?
Depending on the county and state where your condominium is located, and depending on your governing documents, assessments and fines can automatically become liens on your condominium title. Otherwise, your condominium Board of Directors may choose to file a lien until the special assessment is paid.
What is the highest price paid for a condominium in Boston?
A local realtor can answer your question.
Can homeowners association turn off your water?
Possibly, yes. If your water is paid by assessment and you are not paying your assessment, then the association may be able to turn off your water/ electricity/ other services paid for by assessments. It this action poses a hardship, you may be able to appeal on a humanitarian basis.
Can you claim Condo fees as home improvements?
Condominium assessments are paid by owners to support the operation of the condominium community. Assessments pay for professional services, maintenance and contributions to reserves. You can review your question to your tax preparer, who may be able to give you a more definite answer, given your association's budget details.
What does loss assessment mean on a homeowners policy?
Loss assessment on a homeowner's insurance policy is protection against getting sued for a person being injured on the property. This is a common insurance that condominium owners need to protect themselves from lawsuits for someone being injured in the common areas of the condominium complex..
What is Resort Condominium International?
There is a company named Resort Condominium International (RCI), that affiliates with resort properties and markets them together with other travel services.
What are noncovered services?
Services that will not be paid by Medicare or Medicaid and will have to paid for in full by the consumer.
Why do you pay hoa fees if you rent?
If you own a condominium that you rent, you remain obligated to pay your assessments. If you rent a condominium, you may be obligated to pay assessment through the terms of your lease.
What was the American assessment at the beginning of the revolutionary war?
taxes paid to england
What is a needs analysis?
A needs analysis is an assessment to see if a person needs certain services. The Department of Social Services conducts this type of assessment to find out if the income a person has will qualify them for many programs.
What services did the medieval church have that had to be paid for?
exorcisms had to be paid for
What are the advantages of pre paid legal services?
The advantages of pre paid legal services are that they are convenient, cost saving, and brings a peace of mind. Pre paid legal services are often used when it comes to legal services.
