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CondoAssociation.com
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Is a condo board allowed to charge interest rates of 15% compounded annually on late fees just because 15% is written in the HOA rules and regulations? I believe under a certain law 25% is definitely illegal but I'm not sure about 15%. Is it recommended to pay the late fees upfront and dispute it later?

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If I have 910 lots but only 787 are occupied, do I calculate the HOA fees on the 787 occupied by leaseholders or the entire 910? I am in New York State

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Now we are wondering if we can raise dues mid year by $7.00 or are we unable to due to the budget already being voted on at the annual meeting? Would we need to call the increase an assessment? and raise dues at the next annual meeting?

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What percentage can an association raise condo fees, how often can they be raised, and what is the proper procedure?

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Need a sample of a letter to serve to a tenant currently living in a foreclosed condo unit In the building. Demanding that they pay rent to the hoa. Instead of the owner. The owner has not paid hoa for 4 years. But continues to rent out unit.

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Under the clause of HOA cannot transfer property with voter approval, can the BOD take possession of a foreclosure (for which the owner owes the HOA), rent it out until the HOA is repaid, and then sell the unit once the debt is paid all without a vote?

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Within the last 2 years there has been small but frequent (and anticipated another within 6 months) increases in our HOA Fees. Is there a formula or scale to alert an owner when the HOA Fees are getting into a "red zone" or "top-heavy" compared to the value of the individual condo unit.

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I am certainly no expert on the Bylaws or CCR's governing the Association. Hopefully the Board will take measures to improve accounting methods. I am looking for some clarification from someone that knows about these issues, ethics, regulations, guidelines and laws.

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We are a self managed complex + 55 with 72 units. We have an outside company do our books. Is it wise to have our residents mail a check to the village name OLde Canal Village Trust to the att of theTreasurer for deposit into our account. Are we playing with fire?

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A new owner moved in and refuses to pay the new owner fee of $1,000. It has been collected from new owners since 1986 with no problems. The original fee was stated only in the original "Offerng" but not in CCRs or bylaws; its increase to $1,000 was voted on and passed and in the minutes.

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.

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