Can I be charged for a special assessment if the condo complex needs repairs?

Yes, you can be charged for a special assessment if the condo complex needs repairs. According to New Hampshire’s Condominium Act, special assessments are used to pay for shared improvements and repairs to the common spaces, such as the building’s exterior, lobby, and parking lot. Condo owners are responsible for paying their share of the special assessment. Depending on the size of the condo complex, the cost of the assessment may be split equally between all the unit owners, or it may be based on individual unit size or ownership percentage. The condo board is responsible for calling a meeting to vote on whether the special assessment should be made and how the cost should be split. All unit owners are typically informed of the meeting in advance and given the opportunity to voice their concerns about the special assessment. Once the board passes a resolution approving the special assessment, the assessment is distributed to each owner in either one lump sum or in several installments, and the owners are responsible for paying it in full. Failure to make the payment on time may result in fines and other legal consequences.

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Can I be charged for a special assessment if the condo complex needs repairs?

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