Tuesday, May 31, 2011

I can't sell my condominium because the condominium association is in bad shape. Several units are paying assessments and the association is broke. What should I do?

The answer is - do something!  Under the circumstances, the best thing to do is become a member of the board to help keep things moving.  At the next board meeting, suggest that the board retain/hire a law firm that specializes in eviction.  Then as your condominium budget  allows, hire the firm to evict the longest non-payers of assessments.  The law allows the association to rent the unit for up to 13 months on a single lease to recover assessments.  If the past due assessments are recovered prior to the end of the 13 month lease, the surplus is paid to the owner of the condominium unit and is allowed to move back-in.  If the assessments are not paid up, then another 13 month lease can ensure.  Pretty soon, your building will be full of paying renters, your association budget will be repaired and hopefully you can sell your unit and not at a loss!

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