The Cost of Collecting Delinquent Condo Assessments in Michigan One of the most common questions Michigan condominium board members ask is simple and practical: How much will it cost the association to collect unpaid assessments? The short answer is that, in many cases, a condominium association can
Condominium associations rely on assessments to fund shared services, including building maintenance, landscaping, insurance, common utilities, and reserve planning. Board members are legally obligated to protect the condo association’s financial health, and part of that fiduciary duty is to ensure that every co-owner pays their
3 Essential Policies for Michigan HOAs and Condo Associations The governing documents of a homeowners association identify the rights and restrictions that apply to the members of that association. Governing documents include the master deed and bylaws of a condominium association, and the declaration or deed
Top 5 Actions for HOA and Condo Boards After an Owner’s Bankruptcy Filing In 2024, over 500,000 bankruptcy cases were filed in the U.S., a 14% increase from the prior year. With 2025 expected to bring even more filings, many condominium and HOA boards are facing
Should You Update Your Condominium or HOA Lien for New Assessments? When a condominium or homeowners association (HOA) in Michigan imposes a new assessment, a common question arises: does the existing lien need to be updated to reflect the new charges? The answer depends on several
Ensuring Financial Stability: When to Initiate the Collection Process for Condominium Associations Condominium associations occupy a critical role in maintaining the economic health of community living spaces, balancing the delicate intersection of collective responsibility and individual financial obligations. Ensuring financial stability within these communities hinges on
