Your common charges are based upon the budget developed by your Board of Trustees and the proportionate interest in common elements for your unit type. The Board of Trustees, dependent upon present and future financial information, will typically modify the association’s operating budget on an annual basis.
Common charges are paid on a monthly basis and are due on the first day of each month.
Prompt payment of the common charges is vital. The association relies on timely payments in order to pay its bills on time. Obligations of the association for such bills as the master insurance policy, landscaping, snow removal, and other vital services require timely cash flow!