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CaramonLS · 02-03-2014, 10:43 AM

I got hit last year with a 26k special assessment. I had enough assets that I was able just to dump it into a Heloc and pay it off that way. It was over the Kitec Plumbing issue (I'm sure KC knows about this one) and there really wasn't much that could be done.

Our Condo corp was able to structure payments over a 1 year period in quarterly installments.

There are a lot of owners that whine about condo boards - if you don't have a good one that is dedicated to the long term health of your property, I would highly recommend getting on there yourself. People own condos for all sorts of reasons and the ones you want to avoid are the ones that think only about keeping condo fees low for the purpose of flipping the property - if there are people like this on your board, you need to be involved so you can stop this from happening.

02-03-2014, 10:43 AM	#64
CaramonLS Retired Join Date: Mar 2003 Exp:	I got hit last year with a 26k special assessment. I had enough assets that I was able just to dump it into a Heloc and pay it off that way. It was over the Kitec Plumbing issue (I'm sure KC knows about this one) and there really wasn't much that could be done. Our Condo corp was able to structure payments over a 1 year period in quarterly installments. There are a lot of owners that whine about condo boards - if you don't have a good one that is dedicated to the long term health of your property, I would highly recommend getting on there yourself. People own condos for all sorts of reasons and the ones you want to avoid are the ones that think only about keeping condo fees low for the purpose of flipping the property - if there are people like this on your board, you need to be involved so you can stop this from happening.