One of the unavoidable realities of being an owner at a condominium association is the obligation to pay membership dues. Typically, a condominium’s board of directors will levy an annual assessment based on a budget that has been ratified by the association’s members. The annual expenses will then be assessed to owners and divided according to each unit’s percentage of “common expense liability” or “allocated interests.” Such dues are usually payable on a monthly basis. Read the article………….
The two most common Reserve Funding objectives are Full Funding, where the Reserve Fund is designed to exactly offset the
Their case is one of hundreds of foreclosures filed since 1993 by homeowners associations in Charleston County for unpaid dues
Society is replete with examples of intelligent people doing foolish things, especially regarding their homes and their money. Homeowners know