What's an association special assessment?A condo association assessment, sometimes called an condo association fee, is a dollar amount paid each month by the condominium owner to cover a proportional share of the condo association or HOA common expenses of the property. These expenses can typically include, but are not limited to: gas; sewer; water, electricity for common areas; scavenger; lawn cutting; snow removal; hallway cleaning; insurance for common areas; professional management, parking lot maintenance; legal and audit fees; as well as short- and long-term replacement
reserve. Be sure to consult the condo association budget for any particular property to learn what is covered in the assessment for that property.
How is a condo association assessment calculated?
