How Housing Co-op Fees Are Set And What Homeowners Are Paying For
Co-op fees can be a source of confusion for many residents and board members. To avoid disputes, it is essential to understand what these fees are, what they pay for, and how they are calculated. It is also imperative to know that nonpayment of these fees can lead to unsavory consequences, including eviction or foreclosure. […]
HOA Special Assessments In Maryland: When Are They Necessary?
Every now and then, the need for a special assessment may arise for homeowners associations and condominiums. When that happens, board members must know how to proceed. There are certain rules and requirements to follow before levying special assessments. Plus, educating owners is integral to preventing pushback. What is a Special Assessment? A homeowners […]
HOA Late Fees: Are They Lawful And Upto How Much Can Be Charged?
For homeowners who fall behind on association dues, HOA late fees are a common concern. These charges are meant to encourage timely payments and keep the community’s budget on track. The key question is how much an association can lawfully charge and what rules apply. Understanding the limits helps both boards and homeowners avoid disputes. […]
A Breakdown Of HOA Fees: What’s Included And What’s Not?
Homeowners associations charge regular HOA fees. These fees serve a critical purpose in the operations and maintenance of the community. Without these fees, HOAs would have no way of paying for essential services, upkeep, and other costs. What are HOA Fees? Also known as HOA dues or condo fees, HOA fees are regular assessments […]