CAI-NJ Feb. 2019

for beyond community assessments. The more special assessments they see, the more likely they are to stop paying or walk away from the unit. Also, bankruptcies often result in uncollect- ible assessments, so the unexpected special assessment would have essen- tially contributed to a bankruptcy and may then be uncollectible as a result. 1. Community managers recognize issues, but can’t get board member buy-in This brings us full-circle back to num- ber 10. EDUCATE YOUR BOARD. n The views and opinions expressed in this article are those of the author(s) and do not necessarily reflect the views of Mutual of Omaha Bank. For any matters concerning your specific needs and objectives, you should seek the professional advice of your own independent legal counsel, insurance advisors or other consultants.

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