I am in a 48 unit condo building and having issues with the board. They have just recently requested a emergency assessment due within 30 days which equates to 225% of common charges so that on April 1 we have to pay 325%! In New York, is there any guidelines or laws that condo boards have to follow concerning assessments (emergency or otherwise)? Many unit owners are on limited budgets and imposing a assessment due within 30 days is a severe impact to finances. In addition, the emergency is for "rising costs and unanticipated expenses." This does not seem like a reasonable, fair or considerate explaination to any Unit Owners. Any help is greatly appreciated.
