can my condominium association send out a letter stating that each unit has to pay 3400 dollars next year? ?

This is why condos are such a horrible deal. Your money is dictated by a board, and they may all be idiots. It is not unusual for condo associations to underestimate how much will be needed for re-roofing; routine maintenance; putting in annuals "for more color" and having to replace them every year instead of using more bulbs, perennials and shrubs; fixing cracked slabs for patios, etc.

I know condo association where a group of young mothers saw the reserves and demanded a swimming pool for their kids -- they got the motion passed at the annual meeting, used up all the money saved for long-term repairs, and the next year got hit with re-roofing at $12,000 assessment per unit. The following year it was a leap in property taxes and another problem and another $10,000+ whack.

So special assessments are legal and common. You're lucky it's only $3400. Insurance never covers routine maintenance, repairs & property tax increases. And that's where most special assessments go.

Get on the board and make sure fiscal responsibility is the primary concern. And make sure those reserves are invested properly so that the investment income helps cover the costs!

Possibly, depending on how the bi-laws read. I have a friend in CA who had this happen because association felt they needed to re-roof and repaint all the units. It definately caused financial stress on her and some of the other residents; but in the end it increased the value of their properties. Still, coming up with several thousand extra dollars was/is hard. Maybe a vote can be taken to postpone this, or stretch it out of 2 or 3 years. Good Luck!

Wow that must hurt. My condo association charges us for assessments every year but they break it up into two to three years. We had our roofs done when we first moved in and paid $500 once a year for three years. Maybe that is something you could bring up at a meeting? I mean that is what - an extra $280 a month that you will have to save. Ouch.

Yes, you may actually be getting off pretty easy. I have seen assessments considerably higher than these. You will have to pay probably too, or potentially end up with a lien against your home. Depends on your Home owner's charter.

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it is called an assessment. and they probably can. Read your covenants for all the rules. You and your neighbors may be able to override the board...

also, check with your insurer. You may have insurance coverage for assessments.

Yes..it's quite legal. Read your by-laws.