Individual Assessment change

Started by JoyceR2 • 2 replies • 490 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

JoyceR2 (Virginia)
Posts: 156

Posted:

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: 14,550

Posted:

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: 2,679

Posted:

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.

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here