Every condominium association is initially created by a developer who controls the association during the beginning of development. During that time, the developer operates the association, but also is in the business of selling homes. Because the developer will want to protect its investment, it will most likely make certain decisions with that interest in mind. However, as more homes are sold, the interests of the owners may start to conflict with the interests of the developer. As an example, a developer may want to keep monthly assessments low to encourage buyers to buy even though it is in the best interests of the owners to increase assessments in order to build reserves. Read the article…………………..
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Dear Tony: Thank you for your column last week regarding levy refunds. Our strata council…