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(EP: 178) March 22nd Flash Briefing -

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Manage episode 358671539 series 1019681
Content provided by Bo Kauffmann. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Bo Kauffmann or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

What is a Special Assessment?

Hi, Bo Kauffmann of REMAX in Winnipeg here to explain this term.

A special assessment relates to the condominium reserve fund.

When a condominium requires repairs, maintenance or upgrades and there is not enough money in the reserve fund, additional money has to be raised from all condo-owners.

The act of raising this additional money is called a ‘Special Assessment’.

If it is a relatively small sum of money, for example a few hundred dollars, this special assessment is usually collected as a one-time payment.

However larger sums may require an ongoing monthly installment plan, which is added to the owners monthly Condo Fees.

For a deeper discussion on this and other real estate topics, check out my blog at boknows.homes/blog or scan this code.

  continue reading

99 episodes

Artwork
iconShare
 
Manage episode 358671539 series 1019681
Content provided by Bo Kauffmann. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Bo Kauffmann or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

What is a Special Assessment?

Hi, Bo Kauffmann of REMAX in Winnipeg here to explain this term.

A special assessment relates to the condominium reserve fund.

When a condominium requires repairs, maintenance or upgrades and there is not enough money in the reserve fund, additional money has to be raised from all condo-owners.

The act of raising this additional money is called a ‘Special Assessment’.

If it is a relatively small sum of money, for example a few hundred dollars, this special assessment is usually collected as a one-time payment.

However larger sums may require an ongoing monthly installment plan, which is added to the owners monthly Condo Fees.

For a deeper discussion on this and other real estate topics, check out my blog at boknows.homes/blog or scan this code.

  continue reading

99 episodes

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