A smarter way to manage unexpected condo assessments.
Condo Cap offers a solution for unexpected assessment costs that lets you stay in your home without selling with an HEI or Home Equity Investment in partnership with Hometap. Access your home equity without a monthly payment.
Learn more and see if we're investing in homes like yours!
Addressing Condo Assessment Challenges

1

Unexpected Expenses
Condo assessments can occur for unforeseen repairs, upgrades, or major projects, putting a financial strain on owners.

2

Limited Funding Options
Traditional solutions like selling or taking out a loan can be stressful and time-consuming, especially during a financial crisis.

3

Disruption to Life
Assessments can force owners to consider leaving their homes, disrupting their lives and community connections.
What is a Condo Board Assessment?
Understanding Condo Board Assessments
A condo board assessment, also known as a special assessment, is a one-time fee levied on all unit owners to cover expenses beyond the regular budget. These expenses may be for unexpected repairs, upgrades, or major projects like roof replacements or elevator maintenance.
How are Assessments Determined?
  • The board of directors or condo association evaluates the need for the assessment.
  • They assess the estimated cost of the project or repair.
  • They determine the amount each owner will contribute based on their unit's square footage or other factors.
Unexpected Expenses and Project Costs
Repair Needs
Aging infrastructure, unforeseen damage, or weather-related events can lead to unexpected repair costs.
Building Upgrades
Modernizations to improve energy efficiency, safety, or accessibility can require significant investments.
Unexpected Projects
Unforeseen issues like plumbing leaks, foundation problems, or fire damage can necessitate urgent repairs.
Condo Association Determines Assessments

1

Assessment Evaluation
The board assesses the scope and cost of the project or repair.

2

Contribution Calculation
They determine the amount each owner will pay based on factors like square footage or unit value.

3

Assessment Implementation
The board sends out notices and collects payments from all owners.
Condo Cap's Equity Sharing Solution
1
Shared Ownership
Condo Cap provides a way for owners to pool their equity to cover assessments.
2
Investment Opportunity
The platform allows investors to invest in a diverse portfolio of properties.
3
Flexible Financing
Condo Cap offers customizable repayment options to suit owners' financial situations.
Benefits for Condo Owners
Financial Stability
Owners can avoid selling their homes or taking out high-interest loans to cover assessments.
Community Preservation
Condo Cap helps maintain the value and quality of the property for all owners.
Peace of Mind
Owners can focus on enjoying their homes instead of worrying about unexpected financial burdens.
Contact Us and Learn More
Send us your questions at help@trycondocap.com