Everything You Need to Know About Special Assessments in Condo
Posted by Jared Chamberlain on
Everything You Need to Know About Special Assessments in Condo
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Do you have a condo and are wondering about the ins and outs of special assessments?
Jared Chamberlain invited Rebecca Hewitt of Condo Savvy to talk about special assessment in condos, how it works, how much it costs and how to deal with it.
Rebecca owns a condo inspection business where she does condominium document reviews for purchasers of condominiums. You can check out her company at www.condosavvy.ca.
What is Special Assessment
A special assessment is basically a cash call. It is called for when the condominium corporation doesn't have enough money for operations or certain projects. To levy a special assessment, the board sends out letters to the owners with the…
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