Condo Q&A

How to compensate for foreclosed unit's condo fee?

Written by CondoAssociation.com | Sun, Apr 16, 2017 @ 01:57 PM
There are eight units in our building. One of the units has been foreclosed on. The board raised our association fees by $50 each unit in order to cover the fees due by the unit that was foreclosed on. Is this legal? Or should they be taking this money out of the reserves?