Condo buildings are complex and intricate, and they require a reliable source of revenue to maintain the structure, repair systems, keep everything clean, cover emergency or unexpected costs, pay staff, etc. Much of this money comes from owners in the form of condo fees. However, on rare occasions, the corporation or association may be hit with a large and unexpected expense that cannot be covered by the building’s reserve funds. In these cases, the board may be forced to levy a special assessment.   Read the article…………………………………