The importance of community association assessments

When you get around to paying your bills every month, do you think of your association assessment as of lesser importance? If you do, reconsider it. 

As stated in the National Consumer Law Center’s (NCLC) publication, 'Guide to Surviving Debt', “Condo fees…should be considered a high priority.” Indeed, NCLC holds community association assessments to be in the same class as mortgage payments and real estate taxes — a grouping rated second in importance only to a family's food requirements — per the “Sixteen Rules about Which Debts to Pay First” found in the guide.

Assessments purchase services such as building maintenance, snow removal, and cleaning that you would buy regardless of where you dwelled — whether coming directly out of pocket or added into a larger rent payment. In contrast, the association has group buying power, so when collective community services and utilities come to you as a monthly fee, you’re actually getting a much better deal.
 So, the next time you grab your checkbook, be sure to place your assessment near the top of the bill pile. You’ll be happy you did.