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When Owners Fall Behind: How to Collect Condo Arrears

  • By: Stephen Lasser, The New York Cooperator
  • Published: October 24, 2003

A common problem facing condo associations, boards and managers is how to compel unit owners who fall behind in their common charges to pay their arrears. In a condominium association with only a few units, if even one unit owner falls behind in common charge payments, the building may have trouble meeting operating expenses. When unit owners in larger condominium associations with many units fall into arrears, although the impact may not be felt immediately, eventually the shortfall will have to borne by the other unit owners via increases in common charges or assessments. Download PDF

About the Author Stephen M. Lasser is the managing partner of Lasser Law Group. He has
focused his practice on real estate as both a litigator and a transactional
attorney for approximately 20 years. Read More