Witholding Association Dues? Don’t.

No matter where you live, if you live in a condominium there is a homeowners association attached to it. In addition to the homeowners association you will also need to pay homeowners association fees in order to ensure that the amenities that are attached to your condominium remain in good shape and to take care of the exterior of the building. However, some condo owners will occasionally come up against the homeowners association with an argument. In this case, some condo owners decide to withhold their association dues until a decision is reached in their favor.

This is not a wise decision. Withholding your homeowners association dues can result in you getting into a lot of hot water. While the homeowners association may operate out of your condominium complex, not paying your dues is akin to not paying your mortgage just because you are upset at your bank. This can result in many negative ramifications for your credit rating and can even get you into legal trouble.

If you have any problems with your condominium association, make sure that you choose the path of paper over the path of money. Not only this, but withholding association dues also affects the value of your neighbors’ properties as well, particularly if there is not enough money in the kitty to pay for repairs and landscape. Do yourself a favor and do your neighbors a favor; make sure to always pay your homeowners association dues on time and in full!

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