How are condominium maintenance fees and special assessments assessed? Do I have any say in how much the condominium maintenance fees and special assessments will be?
Condominium maintenance fees, as well as special assessments, are determined via a three-step process: First, THE COLUMBIA GARDEN RESIDENCES management team, under the direction of the Board of Directors, prepares a budget for a given calendar year. Afterwards, the Board of Directors recommends this budget to the general membership who then approve it. Finally, each unit owner contributes to the total budget proportionately to the floor area of his unit in relation to the total floor area of all the units in the condominium. Condominium maintenance fees, as well as special assessments, are thus estimated annually by the Board of Directors who are elected by the unit owners and approved by the unit owners themselves. Therefore, the owners have a direct input into how much these fees should be.
