QUESTION
My condo association is forcing all owners to replace or repair our balconies, and making us pay in full within 3 months. Is this legal?
Asked on Sep 20th, 2011 on Residential Real Estate - Illinois
More details to this question:
This is happening because there was an accident where a balcony fell down and someone was hurt, and threatened to sue. The city village mandated that the balconies be inspected. The contractor who did the inspection suggested repair or replacement of all balconies. The building were built in the 80''s and have never been inspected. We are told that the repairs/replacements could cost as much as $3800.00 per unit. I personally am unemployed and barely able to pay my mortgage. When I spoke to the association board members, they basically said, tough luck, either pay or we will put at lien on your property. Is there anything I can do?
1 ANSWER
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Condo assessments are the payments made by condominium owners to cover the common expenses of the entire property. Special assessments occur when additional funds are needed to quickly cover an unforeseen shortfall in the association budget and are usually rare when the association maintains a strict budget. When the board votes to assess a special assessment to repair /replace the balconies per a city village mandate, each unit owner will be assessed a special assessment. You may be able to challenge the amount of your assessment based upon your unit percentage ownership or the process the board used to vote, but if all things are correct, you have to pay the assessment or a lien can be placed against your unit. If you think that the board didn't follow proper procedure or that the amount assessed against your unit was incorrectly calculated, feel free to call me.
Answered on Sep 22nd, 2011 at 12:23 PM