68 Pa.C.S. § 5314

Assessments for common expenses

assessmentscommon-expensesfinancial

Plain-English summary

Sets when assessments begin in a planned community, requires at least annual budgeting and assessment, allocates general common expenses by common expense liability, caps default interest on past-due assessments at 15% per year, provides special allocations, and addresses reallocation.

Not legal advice. Statute reference is for education only. Confirm citations on official sources and consult a Pennsylvania attorney familiar with community associations.

Statutory text

Search all statutes

§ 5314. Assessments for common expenses. (a) General rule.--Until the association makes a common expense assessment, the declarant shall pay all the expenses of the planned community. After any assessment has been made by the association, assessments shall be made at least annually, based on a budget adopted at least annually by the association. The budgets of the association shall segregate limited common expenses from general common expenses if and to the extent appropriate. (b) Allocation and interest.--Except for assessments under subsection (c), all common expenses shall be assessed against all the units in accordance with the common expense liability allocated to each unit in the case of general common expenses and in accordance with subsection (c) in the case of special allocation of expenses. Any past due assessment or installment thereof shall bear interest at the rate established by the association at not more than 15% per year. (c) Special allocations of expenses.--Except as provided by the declaration:

Any common expense associated with the maintenance, repair or replacement of a limited common element shall be assessed in equal shares against the units to which that limited common element was assigned at the time the expense was incurred.

Any common expense benefiting fewer than all of the units shall be assessed exclusively against the units benefited.

The costs of insurance shall be assessed in proportion to risk, and the costs of utilities that are separately metered to each unit shall be assessed in proportion to usage.

If a common expense is caused by the negligence or misconduct of any unit owner, the association may assess that expense exclusively against his unit. (d) Reallocation.--If common expense liabilities are reallocated, common expense assessments and any installment thereof not yet due shall be recalculated in accordance with the reallocated common expense liabilities.

Synced from the Florida Legislature’s official site. Verify the current version before citing.

Free account

A free account adds bookmarks, PDF export, uploaded governing documents, and side-by-side search with Florida statutes.

Bookmark statute sections you cite in meetings
Upload CC&Rs and bylaws with the same section finder
Ask questions in the Common Area forum

Common Elements is the always-on industry expo for community associations: vendor hall, professional community, and structured procurement, open 24/7. It complements the management and accounting software you already use; it does not replace it.

Assessments for common expenses

Plain-English summary

Statutory text

Put this statute to work

Community discussion

Your governing documents

Watch this statute

Plain-English summary

Statutory text

Save your place and go deeper

Put this statute to work

Community discussion

Your governing documents

Watch this statute