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Re: Developer & maintenance fees
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Home away from home
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2004/11/7 17:04 Last Login : 2015/2/24 18:16 From "Pay for Play"
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My understanding is that if you are living in a condo building, all units irrespective of their being "sold" separate from the developer, are assessed a common maintenance charge. In reality, the so-called "unsold units" are owned by the developer until transferred to another purchaser. In any event, you should have your condo board hire a lawyer to see if there are any loopholes that the developer may use not to pay the common maintenance charge. As an example, I live in an 8 unit "non-eviction" condo conversion building. Four units sold outright and the other four units are owned by the former owner of building who converted units. We pay him rent and he pays any common maintenance charges to the condo board as he owns our four units.
Posted on: 2008/11/25 17:51
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Developer & maintenance fees
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Newbie
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Does anyone here know if a condo developer has to pay maintenance fees on unsold units? Thank you
Posted on: 2008/11/25 17:15
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