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
A necessary component of running a functional condo association is the collection of delinquent maintenance assessments. While many condo associations can yield account resolution through a demand letter and/or recording a lien against the unit, some delinquent accounts may require the initiation of foreclosure, which
A recent survey by the Community Associations Institute’s Foundation for Community Research reported that 91% of community association managers and HOA board members reported seeing unexpected increases in operating expenses due to inflation. While cost increases are inevitable, it appears that condominium and homeowners associations
