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July 6, 2007, Newsletter Issue #37: Association Dues And Assessments
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Tip of the Week
One of the greatest areas of concern for condominium tenants arises when the owner/landlord fails to pay the association dues or assessments. Current tenants may not have any idea that the owner is late or has missed payment(s).
In some cases, the Homeowner’s Association (HOA) can be taking action against the owner without the tenant knowing. Depending on the situation, it is possible the condo may be in foreclosure and the tenant may not be aware until a notice is placed on the front door. This can be very confusing and unfair for the rental tenant of the condo unit. It is best to pay your rent when due and have an open relationship with the owner and keep your eyes open for signs of an irresponsible or troubled landlord.
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