A condominium a sinking fund to accumulate 250000 in 3 years The fund earns 9 interest pa compounded monthly If there are 200 units in the condominium how much each owner unit will payeach month?

Answer Each unit owner will be required to pay $26.69 monthly for 3 years or 36 payments.. That amount of money will accumulate to $213,802 in those t3 years at a 9% compounded rate, or $36,198 in accumul... Read More »

Top Q&A For: A condominium a sinking fund to accumulate 2500...

In a NJ condominium that you own two or more units would you become a member in bad standing if you paid assessments on one unit and did not pay on the other units?

Regardless of the number of units that you own, you owe assessments on every unit.Read your governing documents to understand your commitment to pay assessments. In addition, you can read the board... Read More »

Would a condominium unit owner who is delinquent in paying his or her maintenance fees have a right to vote?

Read your governing documents and identify the penalties the board can apply when you are delinquent in paying your assessments.Some associations will deny you the right to vote, because by not pay... Read More »

Can the Condominium Owners Association in Hawaii evict a unit owner who is undesirable?

Read your governing documents to determine which owner behaviours violate the agreements that the owner signed when the owner purchased a unit. 'Undesireable' is a judgmental word that requires mor... Read More »

Can a condominium association put a lien on the unit owner's business account when the unit is owned by the individual and not the business?

There are several kinds of liens, one of which is generally established automatically in your governing documents, based on your promise to pay your assessments. The association's attorney can form... Read More »