I own a condo in Branson MO that is a nightly rental.
I received a bill in the mail from my condo association for $11,250. I called and found out that this was upgrades that the city of branson was enforcing they do, so they are charging everyone $11,250 because they do not have enough money in their reserves to cover it. They can cover 7% of the total construction costs, but the rest is left to us owners.
Every other condo was notified about this in July, but I was not because they entered my email incorrectly.
They specified that the only buildings that the city flagged for upgrades were buildings 1-10. I own a unit in building 12, and am still being charged the full amount.
They are mandating everyone pay the full amount by september 30th, or a $50 late charge will be enforced every day that it is late.
They also sent over a quote listing the upgrades they plan to do and a lot of the money is cosmetic upgrades like power washing and painting which does not seem like something the city of Branson would flag.
Is there any way out of this situation? Had i known this was coming I would have sold my condo. But since i was left out of the communication, I have not known until today.
It is worth checking your governing documents to see how limited common elements are defined and who is responsible for such elements. Since you live in building 12 and the upgrades are only being done for buildings 1-10, you may not be responsible for paying for the upgrade. However, it will depend on what your governing documents say. It may be worth consulting a lawyer for further guidance.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.