With arrears totalling $10,000 a month, a Long Island condo is in the fight of its life.
With arrears totalling $10,000 a month, a Long Island condo is in the fight of its life.
Helping a board collect condo arrears before the money is claimed by the bank.
Most boards attempting to collect delinquent common charges face three options: payment plan, sue, or foreclose.
Boards should learn that in this economy, standard common charge recovery efforts will not suffice.
Arrears in condos and benchmarking submission requirements for co-ops.
The extreme and instructive case of a condo board trying to collect arrears.
How can a condo collect common charges from defaulting unit-owners without spending a lot of time and money in court?
Can a condo board revoke unit-owners’ access to amenities when they are in arrears on their common charges?
How can a condo board collect unpaid common charges arrears from unit-owners?
How can a small or mid-sized co-op best protect itself from a shareholder’s financial default?