What is a condo special assessment?
What is a special assessment? When you buy a condo, you pay association fees, some of which go into a reserve fund for repairs or renovations. But sometimes, these costs exceed the reserves, or the building needs them. Cue the special assessment—a fee on top of your association fee. 💸
📍 Special assessments can burden condo owners unexpectedly. You chose a condo for its low maintenance, right? Well, repairs and shared expenses among owners can happen, disrupting that convenience.
☔️💰Tip: Always set aside money for unexpected expenses related to your property. Being proactive will help you weather those special assessments, which can be costly.
🏗️🤔 Recent events, like the Surfside collapse, have shown that special assessments may increase, especially for older buildings. But even new buildings aren't immune—construction flaws can surprise you.
💪💼 Stay informed, be prepared, and navigate the world of special assessments as a savvy condo owner—plan, so you can handle any financial surprises that come your way. Your
#condo #miamicondo #specialassessment #condobuying #buyingacondo #condobuyingtips
-
1:03:58
Edge of Wonder
6 hours agoAce Ventura: Mandela Detective, King Charles Portrait & Weird News
23.8K39 -
1:40:05
The Quartering
10 hours agoWhy Modern Women Suck w/Hoe_Math
47.1K27 -
1:43:26
Robert Gouveia
6 hours agoGarland SHAKING over CONTEMPT; Congressional MELTDOWN; Fani RAGES at Senate; Tish INVESTIGATED
41.3K61 -
1:48:05
2 MIKES LIVE
8 hours ago#67 2ML Open Mike Friday, we have a LOT to talk about!
25.3K3 -
2:27:40
WeAreChange
8 hours agoIt’s NOT Just The Frogs — They’re Turning All The Animals GAY??
65.2K37 -
1:02:40
In The Litter Box w/ Jewels & Catturd
1 day agoPolice State | In the Litter Box w/ Jewels & Catturd - Ep. 570 - 5/17/2024
79K54 -
1:57:17
Twins Pod
8 hours agoTwins Pod - Episode 13 - Tim Kennedy: Seals Vs Green Berets, Tigers Vs Bears, & Israel Vs Palestine
69.2K36 -
2:21:43
Tucker Carlson
1 day agoDave Smith: Russia, Israel, Trump & the Swamp, Obama, and the Media Attacks on Joe Rogan
157K405 -
59:55
shaneyyricch
8 hours agoPERMANENTLY BANNED ON YOUTUBE - LETS RUMBLE
38.6K25 -
3:23
Stephen Gardner
7 hours agoNew Trump Testimony DESTROYS Michael Cohen HUSH MONEY case!
40.9K24