Regular assessments are easily understood: they are the fees that are needed from all the condo owners in order to pay for the usual
condo budget expenses (e.g., common area needs like pool maintenance, etc.).
Special assessments are everything else: if there is a need for money to cover something other than the usual
condo budget expenses, then the Condo Board must meet and approve this special expense as well as collecting the money to pay that expense via a special assessment.
Not exact matches
If you rent a house or
condo, you should include renters insurance in your monthly
budget simply for the potentially huge
expenses read more...
If you rent a house or
condo, you should include renters insurance in your monthly
budget simply for the potentially huge
expenses it can save you from down the road.
Next,
budget the
expense you could afford to pay in the event your Oklahoma
condo is struck by disaster and you had to meet your insurance policy's detectible.
Take into consideration hidden
expenses such as taxes, insurance, utilities,
condo or HOA fees when creating your monthly
budget.