Glossary

What is an allocated interest?

A condominium unit's share of the common expenses, the common elements, and the votes, stated in the declaration as a percentage or fraction. All units together total 100 percent.

Also called percentage interest, undivided interest, common interest.

In Havn

Allocated interests are entered once in Settings from a prefilled template, then drive dues, vote weights, and the answers on lender questionnaires.

Condo associations

The declaration assigns each unit an allocated interest, usually from its size or its original sale price. That number does three jobs: it sets the unit's share of the budget and therefore its assessment, its weight in any owner vote, and its share of the common elements if the condominium is ever terminated.

Because the shares must total 100 percent, they change only by amending the declaration, which takes an owner vote. Getting the interests exactly right matters: a rounding error across 96 units shows up as dues that do not add up to the budget.

Keep Reading

Guides

Templates

  • HOA Election Ballot TemplateA free HOA ballot template for director elections and owner votes: candidates with write-ins, yes or no measures, instructions, and the two-envelope method for a secret ballot.
  • HOA Dues Increase and Special Assessment Notice TemplateA free HOA letter template for a dues increase or a special assessment: the new amount and when it starts, why, the payment schedule, how to pay, and where to ask questions.

Laws and Documents

See how Havn handles it with your own community.

HOA management software with a homeowner portal owners actually use. Resale documents are included; the requester pays for each one.

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