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Original Message:

Re: Special Assessment / Class Action Lawsuit! (by David R.):

I received my special assessment AFTER it was due. Now they are trying to charge me $79 in late fees. After trying to figure out how they came up with that number, I referred to their letter which states that "late fees are calculated at 18% annually or 1.5% per DAY". It's supposed to be 1.5% per month! If anyone has been charged a late fee, you should do the math. We were charged late fees last year and now I'm going back to recalculate that too. I have not contacted them as of yet.

Additionally, if you do the math on the building, there are 52 owners (weeks) per unit (I believe there are 90 units). Now each owner has paid their $600 or so maintenance fee for two years with a net profit of $5.62 million. Now, they're saying they don't have enough money and are charging an additional fee of $685 (or so) in two installments which will net them an extra $6.4 million. So basically, in the last 2 years, they netted $12.02 million dollars without ever having a guest! Not a bad scam. As for class action, I'm definately in!