Condo Association Management Blog

Check provisions in your bylaws and also download copy of your state condominium law. You may find guidance in either or both of these documednts.Has control of your association passed from developed to unit owners??? Are you collecting monthly few fron devveloper for unsold units??

If the amount of money being collected for dues gets things done then don't raise the fee.

Assessments should be based on financial planning. Most condominiums will require reserves which begins with a reserve study.  
Mortgage companies have begun to practice due diligence which includes review of financial affairs - having reserves included.  
Client of 24 unit condo (out of planned 56 units) transferred in summer with just $130 in bank due to lack of assess increase by developer. Now facing deficit and not having reserve funds. Inability to sell a unit with current finances. Owners being presented with Special Assessment for approval. 
Establish finance advisory group if not transitioned to owner board; obtain and study the report before reacting. Good luck.

Insufficient reserve funds are a good reason to NOT buy in a condo association. Raise if you need to, but make sure you have a professional study and report to back up your decision.