Paul Mitassov Law Professional Corporation
The common elements of a condominium incur ongoing costs, and require occasional maintenance and replacement. Condominiums also have other regular costs, including property manager fees, staff and security salaries, legal and accounting costs, etc. The condominium will collect a monthly maintenance fee from each unit owner. A part of this maintenance fee will be used to cover the regular costs, while another part will be put into a reserve fund which will be used to cover major renovations in the future.
Well run condominium corporations perform regular reserve studies and accounting, adjust maintenance fees gradually, and are transparent about all such increases. Poorly run condominiums often surprise unit owners with major maintenance fee increases (i.e. when there is no money in reserve and a major repair is needed).
Additionally, a condominium may charge a unit owner for any costs caused by their unit alone. For example, a unit owner may be charged if their unit’s plumbing leaks and damages other units.
Disputes over condominium fees are very common, and are often decided by the contents of the condominium declaration and the particulars of the dispute. Such disputes should be resolved promptly, before they escalate into liens and litigation. A skilled lawyer can assist you in evaluating the dispute and protecting your position. Our team has years of experience in assisting condominiums and unit owners, contact us today and let us help you.
Complex problems need smart solutions. Our highly trained team of lawyers will assist you in every possible way to resolve your problems without any hassle.
We are one message away!