Special assessments can zap condo owners for thousands

Realty Check

By Erica Minchella

Erica Crohn Minchella, is the head of the boutique real estate firm of Minchella & Associates, Ltd., handling residential and commercial real estate transactions and litigation such as foreclosure defense, quiet title, and partition actions. erica@ecminchellalaw.com

Posted May 10, 2023 10:43 AM

Condominium ownership comes with both benefits and detriments. Single-family homeowners are responsible for all costs of maintaining their homes, but condo owners also share the costs of certain common elements that are generally based on each owner’s percentage of ownership. These can include a building’s roof, foundation, plumbing, elevators, front doors, foyer areas and shared hallways. But that means that if an issue with a common element happens to affect only particular units — or even an individual unit — and not …

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