Talk about beating a dead horse. I have been asked over and over and over again, by unit owners all across the state if:
- They are entitled to a refund at the end of the year or;
- They can currently withhold portions of their monthly assessment,
because the pool, restaurant, club, spa, gym, card room, library or any other common facility has been closed during the Coronavirus pandemic.
The simple answer in NO. And it is driving a lot of people crazy. As you know, the budget for 2020 was probably passed in October or November of 2019. The budget included the anticipated 2020 expenses including insurance that covered the pool, restaurant, club, spa, gym, card room, library or any other common facility. The budget covered the maintenance of the pool that was never discontinued. The budget covered maintenance of the property, landscaping, director and officer insurance, management fees, accounting fees, legal fees, fees payable to the DBRP (if you’re a condo), security, reserve accounts, repayment of bank loans in some circumstances, office supplies, major and minor repairs and so on and so on and so on.
NONE OF THESE EXPENSES CEASED DURING THE CORONAVIRUS SHUTDOWN. For all intents and purposes, the expenses of the association stayed the same in 2020, and in some cases actually went up, where the association decided to hire extra cleaning staff during the crisis to help keep the property spic and span.
So…..for those of you who have threatened to withhold your assessments. Please don’t. Trust me on this…..instead of owing $300.00 you will quickly owe $3,000.00 or more. Hopefully, we are turning the corner, our facilities will soon be opened and we can all meet again, sit in the theater again, play cards, exercise and swim together. In the meantime, wishing you and your families only the best of health.
