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Subject: Individual Assessment change
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Author Messages
JoyceR2
(Virginia)

Posts:156


08/12/2019 9:16 PM  
264 unit condos

Is it ever legal & I emphasize "legal" to grant any owner a lifetime reduction in their monthly assessment different from any other owner? I realize at times a "board" might elect to make some agreement to secure unpaid assessments if "prudent" but would at the same time cause the delinquent party to then pay as required from that point forward. It goes without saying that this action would need to be by motion & approved by a majority of the board.
KerryL1
(California)

Posts:6712


08/12/2019 9:58 PM  
What do your governing documents say about assessments, Joyce? They probably say something about the amount or percentage or whatever you assessment are used on in you HOA. Neither your board nor anyone else can change this amount without a vote of the owners. That % of owners needed to approve a change would be in your CC&rs, probably.
LetA
(Nevada)

Posts:837


08/12/2019 11:26 PM  
None of us are lawyers and this is not in any way legal advice, but I don't know of any CC&R that would allow you to do that. Board of directors can waive late fees and fines.
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Forums > Homeowner Association > HOA Discussions > Individual Assessment change



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