When Condo Fees Are Not Paid

The blog post discusses the implications of unpaid condominium fees and the steps that condominium corporations can take to address delinquent accounts. It explains that unpaid fees can affect the financial stability of the corporation and may lead to increased costs for other residents. The article suggests that condominium corporations should have clear collection policies in place, which may include sending notices, imposing late fees or interest charges, and pursuing legal action as a last resort. Additionally, the post recommends that condominium corporations communicate regularly with residents about the importance of paying fees on time and the consequences of non-payment.