June 2023
Monthly condominium fees are due by the 15th of each month after which a $25 late fee applies. One owner asks to make payment by the end of each month because of when they get paid at work. This is a typical payment policy in condominium communities and a concession requested by some owners. Some directors support this concession, for certain owners, and others disagree.
When it comes to paying monthly fees, which are necessary to keep the condominium corporation operational and solvent, failure of one owner to pay on time places added financial obligations on other owners.
Empathy and compassion to one struggling to meet their financial obligations is special treatment. Once others learn of this they can and will likely demand a similar concession. The corporation will then have no choice but to agree since all owners are to be treated equally.
Condominium rules and by-laws are very specific on how and when common fees are to be collected. Changing the rules for one owner sets a dangerous precedent and can be viewed as a failure to protect the corporation’s assets without which the corporation cannot survive. It is a disservice to responsible owners who make their payment on time.
Everyone is required to balance payment of their bills, including mortgage and credit cards, while paying for whatever else they choose including restaurants, vacations, lotteries and health. Individuals have chosen to reside in a condominium and must pay their share of expenses. How they manage their financial obligations is a personal matter of no concern to the corporation.
Failing to enforce rules and by-laws regarding payment of fees creates more problems than it solves.
