The Meter is Running
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41 legal experts on game-changing laws, rules, and cases.
AUTHORJonathan Temchin, Associate. Tarter Krinsky & Drogin
PAGE #p. 46
RPL SEC. 339-KK
If a non-occupying owner rents a unit and then fails to make payments owed for common charges, assessments or late fees within 60 days of the expiration of any grace period following the due date, rental payments from the tenant shall be directly payable to the condominium association.
"Condominium boards frequently don’t know how to go about collecting common charges and assessments once the unit-owner stops paying. Many boards believe that their only remedy is to file a common-charges lien against the unit and then try to foreclose on that lien through litigation. They’re not aware of a statute that provides a mechanism for them to collect that money directly from the rental tenant."
To read the full lecture, visit: http://bit.ly/JTemchin