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Can condo association discount annual fees to owners who pay in full?

| Condo & HOA Assessments |   Fees, Foreclosures, Delinquencies & Collections |  


Question:

I am President of our condo association, and came up with the idea of offering discounted assessments (one month free) if owners paid the full year before Feb. 1st. The property management company stated they've never done that before, and were concerned it could be considered as punishing those who couldn't pay in full. We need the money early in the year to pay a flood insurance bill. Can we do this?


Answers (26)

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