by Roofer911.com |
People buying into some condo developments must pay fees to a homeowner's association as part of their monthly living expenses. Those fees cover many maintenance things like lawn mowing, exterior spray washing, paving, and roofing. Buying in bulk means there are less expenditures of time and money for condo owners. Less space is needed for individual owners to store mowers and trimmers. It also ensures a consistency across multiple property owners that keeps the looks and value of the development at a high point.
It means that when you have a leak, don’t need to call a roofer for a roof repair, you call your association. They also work with a contractor so that roofing coverings are kept uniform throughout the whole development. But what happens in less than perfect economic times is that some people pay rent, but fall behind on their association fees. If not enough condo units were sold, or there are too many people defaulting entirely and being foreclosed upon, the pool of available money dwindles.
The association needs to keep a close watch and a tight rein on the finances, cutting back on services provided so that essential needs are met. One condo association facing this difficulty cut back on the frequency lawns were mowed, and let bushes go untrimmed. Here and there, owners picked up the slack, buying gardening tools and doing it themselves. This way, when storms came through and tore off shingles, the homeowner's association had the funds to do necessary repairs.
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