There is an interesting debate on Facebook posted by Buzzbuzzhome on "Why are condo maintenance fees defined by square-footage, and not number of bedrooms?" There are some interesting insights in this great debate.
The fact that the larger the condo unit, the higher the owner pays in maintenance fee, should this rule apply equally to special assessments?
I live in an older building [20 yrs], and recently some major garage waterproofing work was carried out. During the construction period, one of the commercial tenants at street level seeked an injunction to stop work due to noise nuisance. To make a long story short, there resulted in $100,000 lawsuit which incurred additional expenses the reserve fund did not cover. The Condo Board put out a call for Special Assessment. I live in one of the larger units in the building, and resullted in paying a much higher amount.
Under these type of cicumstance, why is the special assessment levied proportionately based on per square footage, and not divided equally?
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