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How are Condo Assessments Determined?

How are Condo Assessments Determined?

By Ilyce Glink| 2018-10-26T16:27:46-05:00 October 26th, 2018|

This reader wants to know how condo assessments are determined because they don’t think their building developer got the ownership percentage split right. Q: Our building has six units, all the same size and layout. It is located in Illinois. The assessment percentage was designated by the builder and laid out in the declaration of [...]

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Condo Declarant Should Pay Expenses For Units They Own

Condo Declarant Should Pay Expenses For Units They Own

By Ilyce Glink| 2018-06-19T11:29:06-05:00 June 30th, 2017|

When a condo declarant still owns unit in the building, they're responsible for ongoing maintenance expenses in the building. Q: We bought into a condo development five years ago. The condo documents said the declarant didn’t have to follow the condo rules or pay dues on his units until the last unit was sold. We [...]