Common Area Assessments

Common Area Assessments – These are fees charged to homeowners who live in common interest developments such as Condominiums, Planned Unit Developments and Master Planned Communities; it is used to maintain and operate the common areas. They are also called “property owners assessments,” “condo owners assessments” or “homeowners assessments.”

  • Example: If you live in a condominium development with common area facilities, you will have to pay monthly common area assessments to pay for the maintenance of those areas.
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