Courts Say Condo Boards Can’t Levy “Confiscatory” Penalties
The bylaws of many condominiums authorize the board of managers to impose fines for violations of the rules and regulations, and also authorize the collection of late fees for failure to pay the common charges on time. However, recent court cases have set limits on the amount of these fines and late fees, even refusing to enforce such a penalty if it is “confiscatory in nature.” Read the article……….
I often wonder what variables factor into an association board’s decision to forego professional management and an annual retainer relationship
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