Major repairs don’t have to mean a large lump-sum demand on unit owners.
SIRS requirements and insurance carrier demands are creating funding needs that can’t wait. The longer repairs are deferred, the higher the cost and the greater the risk to the association.
A lump-sum special assessment puts the full cost on unit owners at once, often thousands of dollars due within months. Owners feel the financial strain which triggers complaints to the board. On top of that, board members face personal liability exposure due to deferred maintenance.
TuCielo finances the repairs your association needs and spreads the cost over time, giving unit owners a manageable monthly payment instead of a lump-sum demand. We approve associations that banks decline, with terms up to 25 years that keep per-unit costs affordable. Your board gets the project funded while your owners get a payment they can manage.
Share the scope, the timeline and your funding situation.
Our streamlined process means faster decisions, typically in weeks.
Your board presents unit owners with a manageable monthly payment.
We handle the financing so contractors get paid and work can begin.
Run the numbers on your association’s project before your next owner meeting.
When you bring TuCielo to your board, you’re backed by a proven track record.
No. There are no liens placed on individual units as a result of the association loan. The loan belongs to the association, not individual owners.
Instead of a large lump-sum special assessment, unit owners contribute through regular monthly payments spread over the loan term. As an illustrative example: a $2.5M project financed over 25 years at a fixed rate of 8.99%, for a 100-unit association, results in approximately $210 per unit per month. Actual amounts will vary based on project size, number of units, rate and term.
Yes, but TuCielo financing converts a large lump-sum demand on unit owners into manageable monthly payments.
Take one minute to tell us about your association and project.
