The Importance of Record Keeping
Condo associations and property managers are faced with the challenge of maintaining accurate and detailed records of fees and assessments due from unit owners. Regular maintenance of records may seem like an obvious task, but when it comes to obtaining delinquent common expenses, keeping the books straight is more than just good business practice, it is necessary to comply with the law.
The Massachusetts Condominium Act sets forth a rigid two-step notice process for associations seeking to collect overdue payments for common expenses. First, the association must notify the unit owner and the mortgage holder that the unit owner’s common expenses are at least 60 days past due. Second, the associations must provide 30-days notice to the mortgage holder prior to filing an action to enforce a lien against the property. In other words, before any other legal action is taken on the matter, condo associations have to provide date-sensitive warnings to unit owners and mortgage holders.
Though a lawyer can and should serve the notices on behalf of the association, his or her legal assistance relies upon on the records provided by the condo association. So, organized records are vital to complying with the law and protecting the rights of the association.