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Recurring charges are very useful in condominiums when charging fixed fees to certain fractions, for example rental fees for a parking lot. The recurring charges are added to the common charges of the condo fees account of the co-owners so that they can be used in the calculation when determining the amount to be deducted from the account each month. For transparency purposes, it is also included in the total expenses of the fiscal year communicated to the owners.
00min, 00sec : Introduction
00min, 45sec : Where to go to use the recurring charges
01min, 05sec : Adding a recurring charge
02min, 25sec : Closing
UpperBee’s team includes several property managers from one of the largest condominiums and homeowner associations management company in North America. We are therefore pleased to be able to share with you our many decades of experience in condominium and HOA management field.
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