I closed on a sponsor unit this summer, and just learned of an assessment of over 10% of my annual maintenance to be paid over the next 4 months. The board states that it is for higher than expected heating costs, and an increase in real estate taxes. The letter implies that the tax increase was known about as of January 1st, 2014. So I am wondering: (1) Should I be responsible for costs related... [more]
I closed on a sponsor unit this summer, and just learned of an assessment of over 10% of my annual maintenance to be paid over the next 4 months. The board states that it is for higher than expected heating costs, and an increase in real estate taxes. The letter implies that the tax increase was known about as of January 1st, 2014. So I am wondering: (1) Should I be responsible for costs related to heating that were incurred well before I closed, and (2) Should I be responsible for the portion of the real estate tax increase that applied before I closed? I am also curious to know why this assessment is only happening now, when the board has evidently known about these extra costs for some time. The sponsor is renovating many of the units, most currently in contract, and still owns a majority of the shares.
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