Homeowner dues (“assessments” by statute) are the lifeblood of an association. Most all HOAs and condominium are nonprofits. That is, community associations are not designed to make money; they are designed to pay the association’s bills. Associations basically act as agents for collections by other entities—water, garbage, electricity, landscaping. The funds collected are not kept by the association, but are forwarded to other parties, including the government. For example, one of our associations pays the premium insuring all 200 units each year. Read the article…………………………
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