Quote:
Originally Posted by nik-
I guess that's one way for a Condo Board to kill resale value. Well done.
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Yeah, that's a tough one. Personally I'd rather the Board Special Assess a reasonable lump sum amount to keep fees at a reasonable amount. The reality is that there will be a lot of people that either 1) Can't afford it 2) Don't want to as they plan on selling in the next year.
Is also kind of moot as anyone doing their homework reads the minutes and sees a history of special assessment.
Finally - it's not like Boards jack fees for fun. Clearly something expensive has occurred. Could be an underfunded reserve report (elevators usually clobber Boards) - that'd be my guess.