A one-time charge levied by a condo corporation on unit owners to cover major repairs or expenses not adequately funded by the reserve fund. Special assessments can range from a few thousand to tens of thousands of dollars per unit and represent a significant cash flow risk for investors.
Special Assessment
A one-time charge levied by a condo corporation on unit owners to cover major repairs or expenses not adequately funded by the reserve fund. Special assessments can range from a few thousand to tens o
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