One-time condo fees?

My newly formed condo board is about to embark on a one-time expense to hire an inspector/enginer, and there’s been some debate about how we should pay for it—whether the cost should be split equally among unit owners or based on percentage of ownership (like our common area mantainance and monthly common charges). We have the added issue that some people own multiple units (some combined, some not). 
What does your condo do for these types of things? We want to lay very clear ground rules so this doesn’t keep cropping up. Thanks.

carollann

in Property Management 13 years and 5 months ago

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digital1234 | 13 years and 1 month ago

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bkmatthew | 13 years and 5 months ago

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It depends on what your condo bylaws say. Ours say that it’s by percentage ownership unless the board conclude that another basis is more reasonable. When we installed storage lockers and were alotting one locker to each unit, we divided the bill by the number of units because each unit benefited equally. In the case of the engineering assessment (a not uncommon occurrence btw) it seems to me that owners benefit in proportion to the amount of the building that they own, so percentage of common interest is appropriate. I mean if one owner has a 500sf studio, why should they pay the same amount as someone who owns a 2500sf combined apartment? I would definitely be going on percentage of common interest if I was on your board.

curiositykilledthecat | 13 years and 5 months ago

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Agreeing with others that it’s by percentage.  And this should be outlined in your by-laws, so look there first before you guys create new policies. Good luck.

elbow | 13 years and 5 months ago

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% ownership.  That’s how you should always split shared expenses in a co-op condo.

OneOneTwoZeroOne | 13 years and 5 months ago

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A good lawyer would have those fees as part of the closing cost and be paid by the seller.

daveinbedstuy | 13 years and 5 months ago

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Based on %.  Always.