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Condo Boards Face Difficult Decisions
March 10, 2009 - Sylvia Heldreth
Some of my clients are community associations. Lately, they have mentioned that raising homeowner dues can be a difficult decision for a board to make. Unfortunately, they are being forced to consider how to cover expenses when an increasing number of unit owners are delinquent in paying their association fees. If fees are not increased or special assessments are not levied, the communities that chose not to raise assessments will find themselves in poor financial shape. What do you think?
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