What is an Assessment (for a Condominium)?
In
Buying, Condominium
An assessment is a unit owner’s share of the amount of money required to pay the common expenses of the association and the condominium. The assessment may go towards items such as building maintenance, landscape, water, sewer, trash, roof, reserves…etc
The assessment is usually paid monthly and it is important to know the amount of the assessment and what it covers before you purchase a condominium unit.
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