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 in Virginia. A special assessment is a fee imposed on members of a condominium association to cover the cost of repairs or other expenses. These assessments are typically used for major, one-time expenses that cannot be budgeted for and are usually beyond the scope of the regular budget. In Virginia, condominium associations have the authority to impose special assessments. All members of a condominium association must pay a portion of the assessment, regardless of whether they occupy their units full-time or only seasonally. These assessments are billed as part of the regular dues and should be paid in a timely manner. Generally, a special assessment is approved by a majority vote of the members of the condominium association, and the funds collected are used to cover the cost of the repairs or other expenses. The amount of the special assessment is determined by the members and should be based on the cost of the repairs or other expenses. It is important to note that individual members are not financially responsible for the entire cost of the repair or other expense. For more information regarding special assessments in Virginia, please contact an attorney or a licensed real estate professional.

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

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