Explaining HOA special assessments

HOA Special Assessments: What You Need to Know

HOA boards are responsible for financial planning for the community, allocating incoming dues and fees to cover day-to-day expenses and to the reserve fund for future projects, maintenance, and improvements. Sometimes, unforeseen expenses trigger a special assessment, catching homeowners unaware and unprepared. While HOA boards have the right to issue special assessments in certain situations,

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