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Condo Associations Must Ensure That Accepting Partial Payments from Delinquent Unit Owners Won’t be Considered Payment in Full

/ Owner - November 25, 2014

Condominium association budgets suffer significantly when unit owners become delinquent in paying assessments. Moreover, the burden for those unpaid assessments falls on the responsible unit owners who must make up the shortfall in the next yearly budget, which often results in higher assessments across the board. For this reason it is important that associations have collections policies in place to pursue unpaid assessments.            Read more………

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