09/10/2026
What I find interesting about this article is what it leaves unsaid. Like many news stories today, the headlines capture attention, but the text offers little insight into the full story:
1. The Association cannot impose a special assessment exceeding 5% of budgeted expenses without a membership vote.
2. The special assessment is intended to replace the "entire podium." While this suggests a structural or emergency issue, the article does not clarify the details.
3. If this assessment is not for an emergency, it may stem from deferred maintenance—often the result of volunteer board members keeping monthly assessments artificially low. Eventually, those costs must be addressed.
A professional management company advises HOA board members to adequately fund reserves. C Flood Management does not work with HOAs that fail to follow industry standards and best practices.
While unexpected circumstances sometimes require special assessments, they are generally the result of poor financial management.
Please contact us for more information on how we can help.
Torrance condo owners hit with $49K HOA fee; What CA homeowners should know about special assessments | abc7.com
https://abc7.com/videoClip/19801263/
Condo owners in Torrance are facing a $49,000 fee as part of an HOA special assessment. ABC7 spoke with an expert about tips for homeowners in HOAs.