Florida Community Association Manager Practice Exam

What are maintenance, dues, and memberships often referred to as?

1. Contributions

2. Assessments

3. Fees

4. Taxes

The correct answer is: Assessments

Maintenance, dues, and memberships are typically referred to as assessments because this term encompasses the various financial obligations that members of a community association are required to pay for the upkeep and operational costs of the community. Assessments can include regular maintenance fees, special assessments for unexpected expenses, and various dues that contribute to communal services. Understanding this concept is crucial for community association management as it directly relates to the financial health of the association and the services offered to its members. Proper management of assessments ensures that the association can maintain facilities, provide services, and enhance the community’s overall quality of life. In this context, assessments are essential tools for financial planning and resource allocation within the community association.