Board Could Unilaterally Increase Regular Assessment
Facts: An association’s governing documents granted the board the authority to levy a special assessment if the regular assessment is inadequate. The board raised the regular assessment from $100 per quarter to $130 per quarter. Notice was sent to the homeowners. This increase was discussed at the annual association meeting, which included the presence of a quorum of the membership. However, the members didn’t vote on the assessment increase.
The resource you requested is available only to current members.
Please log in or start your membership account.
Sign up for your free trial membership and access this resource now.
Community Association Management Insider helps community association managers keep their co-ops, condominiums, and homeowner’s associations running effectively and within budget — and all in the bounds of state, local, and federal law, as well as their governing documents.
Click here for quick FREE trial sign-up.
As a member, you get:
- Model tools, such as letters to members, bylaws, and contractor agreements
- Step-by-step management techniques
- Updates on new laws and court cases that impact you
- Easy-to-implement solutions to managers' thorniest challenges.
Community Association Management Insider will show you how to:
- Avoid liability and get indemnity
- Effectively and economically manage maintenance and repairs
- Get better deals from contractors
- Get the right insurance coverage
- And much, much more
Sign up for your free trial membership and access this resource now »