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Assessments: These are charges over and above the usual common charges or maintenance and should be temporary and cover very specific items such as major renovations. Find out how long they are to run for and what they are for. If they are to cover usual operating expenses rather than “one time” expenses, you should drill down to find out what is going on and, if you cannot get a reasonable answer, consider moving on to another property.
Category: Definitions and Concepts | Tags: Assessments Comments Off on