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

Minneapolis St. Paul Condos

Owners of Twin Cities condos and 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…

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