What are my rights as a condo owner regarding increased fees and assessments and the use of these monies?

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What are my rights as a condo owner regarding increased fees and assessments and the use of these monies?

Our condo association is broke and unable to pay for common repairs. Because of this, our fees will be skyrocketing, as well as paying a flat fee for an assessment. On top of this, our condo association wants to put solar panels on our condos to help offset electricity costs in the future, as well as eventually put more money into the fund. We don’t have the money to repair what we need to, let alone pay tens of thousands of dollars for these solar panels. Do we have any rights as owners to keep the association from installing these solar panels so that they can make a profit off of it?

Asked on August 8, 2011 New Jersey

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

You need to read the "covenants, conditions and restrictions" recorded upon your condominium as well as your association's rules concerning in that these documents will set forth the protocol as to increasing fees and assessments to each individual homeowner and the use of these fees.

Typically, the above documents mentioned will set forth voting requirements for increasing fees and assessments and how these are utilized to assist you. The voting rights of the individual homeowners on these assessments could dictate whether the solar panel installation gets approved or not.

One reason why your association has limited funds now is most likely due to homeowners in your complex not paying their monthly dues and losing their homes in foreclosure.

Good luck.

 


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