As a condo owner or HOA member, there are few experiences as frustrating as receiving a special assessment notice. Condos that belong to HOAs face assessments by their condo association board and by the HOA board. Neither can be ignored.
But if you don’t understand assessments, prepare for them, and play a role in limiting them via adequate reserves, then yes, special assessments can break your bank account and undermine your investment. You might even be forced to leave the friends and community you love.
Dr. Joyce Starr has authored nine books and special reports on your condo & HOA rights. A former board treasurer and whistleblower, she won a landmark Florida case and wrote the first definitive guide on non-smoker rights in condominiums.