Condominium Assessments The Lifeblood Of The Any...

Condominium assessments are the lifeblood of the any condominium association. A condominium association cannot function and provide essential services to co-owners unless assessments are collected. Unfortunately, dissatisfied co-owners often threaten to withhold assessments as a means to get what they want. Examples of situations where co-owners commonly threaten to withhold assessments and/or withhold assessments are as follows: 1. A co-owner has suffered damage to their unit and/or the appurtenant common elements and the condominium association has not responded as quickly as the co-owner desires. 2. A co-owner has suffered damage to their unit and/or the appurtenant common elements and the co-owner is not satisfied with the quality of repairs. 3. A co-owner is under the mistaken belief that they are a tenant and that they are allowed to deduct the costs of repairs and make repairs as set forth in Rome v Walker, 38 Mich App 458, 196 NW 2d 850 (1972). http://www.leagle.com/decision/197249638MichApp458_1348/ROME%20v.%20WALKER 4. A co-owner withholds assessments on the basis that they are dissatisfied with accounting practices and/or financial decisions made by the board of directors. 5. A co-owner is dissatisfied with the board of directors and withholds payment for political reasons and/or encourages other co-owners not to pay assessments. While a co-owner may believe that they are justified in withholding assessments for the above reasons, or other reasons,Show MoreRelatedMarketing and Financial Markets41809 Words   |  168 Pagesbuyers’ reactions to the firm’s marketing mix. Understanding the Marketing Concept Individuals and organizations engage in marketing to facilitate exchanges, the provision or transfer of goods, services, or ideas in return for something of value. Any product (good, service, or even idea) may be involved in a marketing exchange. We assume only that individuals and organizations expect to gain a reward in excess of the costs incurred. For an exchange to take place, four conditions must exist.