Associations often come up with new ways to calculate assessments, but sometimes they later learn their methodology was simply wrong, unfair, or in violation of their governing documents. Here’s some guidance on identifying whether a proposed method of determining HOA assessments passes muster.
When HOA Assessments Go Off Course
“If we say it once, we say it a hundred times: Read your governing documents!” says Marc Andrew Landis, a partner at Phillips Nizer LLP in New York City who advises associations and co-ops and is a member of the executive board of the Council of New York Cooperatives and Condominiums. “The association has only the powers that are set forth in the association’s governing documents and applicable law.”