“Some are publicly shaming deadbeats by posting their names on hallway bulletin boards or barring them from facilities like health clubs and concierge services,” The New York Times reports. “Others are reflexively filing liens against owners who are more than 60 days in arrears. And boards are writing requirements into their bylaws to provide additional protections.”
More boards say they’re adopting a “zero-tolerance policy” when it comes to missing dues.
one board in New York City building told The New York Times that its policy includes a 10-day grace period in which the owner is sent a letter about failing to pay dues. If the owner doesn’t respond, a second letter is issued and then referred to the building’s lawyer who may then file a lien against the unit.
To read the full article, click here: Realtor Mag