Twin Cities Condos: Why and When Do Owners May See Special Assessments?

Minneapolis St. Paul Condos

Owners of Twin Cities condos & lofts typically pay monthly assessment, known as the Homeowners’ Association (HOA) fee. If you have a mortgage on the property, it is a separate payment. The monthly association fee keeps the common areas in good condition year-round, etc. By pooling the maintenance funds, condo owners tend to pay more cost-effectively than do homeowners or renters who…

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