Condo & HOA Collections

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 the timely and effective management of assessment collections—a process crucial for sustaining essential services and upholding community standards. This blog post delves into the pivotal question:…

Community associations in Michigan play a crucial role in maintaining the integrity and functionality of shared living spaces. However, when faced with delinquent condominium assessments, these associations often encounter significant challenges in recovering the owed amounts. While some may consider turning to collection agencies as a solution, there are compelling reasons why community associations should select a law firm instead.…

The 2021 Michigan Community Association Fact Book (the “Fact Book”) compiled by the Foundation for Association Research estimates that from July 1, 2019, to July 1, 2021 the Michigan population aged 65 and over residing in Community Associations increased from 17.7% to 18.1%.  These percentages exceeded the national average for Community Association residents aged 65 and over by 1.2% in…

The Michigan Condominium Act provides that sums assessed to a co-owner’s unit constitute a lien on the unit at the time they are assessed.  If condo assessments remain unpaid, condominium associations typically record a notice of lien against the subject unit to perfect the security interest and put others on record notice.  At a minimum of ten days after serving…

Michigan housing cooperatives should have a procedure when evaluating interest or late charges for delinquent carrying charges.