Re: How do communities deal with members who can't pay their condo fees or assessments? | <– Date –> <– Thread –> |
From: Sharon Villines (sharonsharonvillines.com) | |
Date: Thu, 11 Feb 2016 12:08:50 -0800 (PST) |
> On Feb 11, 2016, at 12:47 PM, fergyb2 via Cohousing-L <cohousing-l [at] > cohousing.org> wrote: > > > At Swans Market Cohousing we worried about that issue back in 2008/9 when > there was that big financial meltdown and two members of our Community got > laid off. We agreed to create a fund we call the "Can You Spare A Dime" fund > which we funded by every household pitching in an extra $10 a month for a > while. We stopped contributing when we reached $2000. The fund is available > for emergency no interest loans to households who might have temporary > difficulty paying their Condo fees for whatever reason. We do have enough flexibility and emergency reserves in our budget so if a household was truly in crisis we could help. John Carver raises a good point — it’s important to be clear about the distinction between crisis, a one time unpredictable event, and ongoing financial troubles that signal a person can’t afford to live in the community as they have been. That requires a solution other than loans or gifts. Fundamental changes need to be found. Some households here have rented rooms on an ongoing basis to pay their mortgage. A community could help a household financially to make structural changes to facilitate this and be repaid from a percentage of the rent. Or if the community can afford it, put a lien for the loan on their deed so the community is repaid when the unit is sold. Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
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How do communities deal with members who can't pay their condo fees or assessments? Judith Adler, February 10 2016
- Re: How do communities deal with members who can't pay their condo fees or assessments? Patricia Lautner, February 11 2016
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Re: How do communities deal with members who can't pay their condo fees or assessments? Sharon Villines, February 11 2016
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Re: How do communities deal with members who can't pay their condo fees or assessments? fergyb2, February 11 2016
- Re: How do communities deal with members who can't pay their condo fees or assessments? Sharon Villines, February 11 2016
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Re: How do communities deal with members who can't pay their condo fees or assessments? fergyb2, February 11 2016
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Re: How do communities deal with members who can't pay their condo fees or assessments? Patricia Lautner, February 11 2016
- Re: How do communities deal with members who can't pay their condo fees or assessments? Sharon Villines, February 12 2016
- Re: How do communities deal with members who can't pay their condo fees or assessments? John Carver, February 11 2016
- Re: How do communities deal with members who can't pay their condo fees or assessments? Elizabeth Magill, February 11 2016
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