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If a homeowner pays for roofing repairs or other services in a condominium due to shortage of funds should the association reimburse the homeowner?
Wiki User
∙ 14y ago
The key phrase in your question is 'shortage of funds'.
If the association borrows money from its owners to make repairs, then the owners and the association need a written agreement that details the repayment plan.
A more common and more sound approach dictates that the association levies a special assessment against all owners to pay for repairs and other services.
An association that operates with a 'shortage of funds' is not an association where units will be attractive to buyers.
Wiki User
∙ 14y ago
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