What is the normal configuration of units in a condominium building?

Answer There is no normal in terms of configuration of units in a condominium building. The developer built as many units as s/he believed that s/he could sell, given the zoning, height restrictions and p... Read More »

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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 »

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?

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 »

How many rental units are allowed in a condominium?

The number -- usually expressed as a percentage of owner-occupancy -- depends on your governing documents. In recent times, the governing documents you need to look for are those board meeting minu... Read More »

Is it legal to join two separate condominium units?

When you want to combine two neighboring condominium units, you have certain obligations to your association to review this plan for purchase and any remodeling work you propose before executing an... Read More »