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A $7,500 HOA assessment is forcing some Tempe condo owners to move

Ryan Malham is seen in front of his condo in Tempe on Oct. 14, 2020.

Ryan Malham, a 31-year-old high school government and economics teacher, bought a modest condo in south Tempe in January.

The condo was supposed to be a long-term investment: a place for him to live now with a locked-in mortgage he could afford and a place to rent out down the road when he buys a house. 

Nine months later, he’s selling it.

In late September, his homeowners association emailed Malham to let him know that all of the condo owners in the complex were on the hook for $7,500 each for a planned $3.3 million renovation. 

“Man, I had to read it a few times,” Malham said. “I was shocked. Scared, like we’re in the middle of a pandemic and it’s going to lead to some really, really difficult decisions for a lot of people, myself included.”

Read More: A $7,500 HOA assessment is forcing some Tempe condo owners to move

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