Coping With Arrears: When Residents Fall Behind

The foundation of any properly run condo association or co-op building rests on residents paying their monthly maintenance fees on time and in full, with no delays or delinquencies. However, in the wake of the recession, with many shareholders and owners still on shaky financial ground, some co-ops and condos are feeling the pinch of late and/or missing maintenance payments. Many owners are also unable to cover the cost of special assessments to fund much-needed capital repair and improvement projects.  Read More……

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