Condo Arrears: Cutting Them Off At The Amenity Pass
Condo amenities are great – there are gyms, pools, tennis courts, playrooms, and roof decks, and they all add to the value of apartments. But there’s a dark underbelly to all this glitz: when owners fall behind on monthly common charges, they stand to lose access to these goodies. That is the case at a Long Island condo, and the board is wondering if it can cut off the delinquents at the amenity pass. Listen as Theresa Racht, partner at Racht & Taffae, and Steve Wagner, principal at Porzio, Bromberg and Newman, untangle the problem for the managers.