What it means

A special assessment is an extra HOA charge (sometimes thousands) when reserves aren’t enough to cover major repairs: roofs, elevators, structural work, plumbing, etc.

Protection checklist

• Request HOA docs early (financials, reserves, meeting minutes)
• Look for big upcoming projects and “we voted” language
• Check reserve balance vs building age/condition
• Ask about pending litigation (can impact lending)
• Understand rental restrictions (future flexibility)

BRIK takeaway

Condos can be amazing — if the HOA is healthy. Special assessments are usually a symptom of weak reserves or deferred maintenance. We focus on HOA financial health the same way we focus on roof/HVAC health for a single-family.