Commentary

99 Commonhold community statement Part 4: commonhold assessment

COMMONHOLD vol 8(1)
| Commentary

99 Commonhold community statement Part 4: commonhold assessment

| Commentary

99 Commonhold community statement Part 4: commonhold assessment

The directors of the commonhold association must estimate annually the income needed by the association from unit-holders to meet the association’s expenses. Such a provision is contained in the model form of commonhold community statement. It is considered that this requirement implies that the directors should take account of any other income of the commonhold (for example from letting any of the common parts) and of any surplus or deficit arising from previous years. In the early years of a newly-developed commonhold the developer will have a significant role in fixing the

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