Special Assessments - An overview for Chicago board members
The primary source of income for a condominium association is through the normal monthly assessments paid by the unit owners. These assessments are determined and set one time per year through the adoption of an annual budget. Once the budget has been adopted by the Board, the assessment amounts for each unit are fixed for the year and are not changed. What happens if there are unplanned repairs or other situations where additional funds are needed to support the association?
The primary tool at the Board's disposal is a special assessment....
Connected Management Blog
Helping condominium board members run a successful community.
HEAR WHAT YOUR NEIGHBORS ARE SAYING ABOUT CONNECTED MANAGEMENT!
The most valuable feedback about our service comes from active board members. Watch our video testimonials to learn about their experiences with Connected.