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How common are HOA/Condo special assessment fees like the 80k-330k that was expected of each unit at the Champlain Towers?

Source.

I'm just wondering how this works, what about an HOA of townhouses ? If the damage is only one side of a structure, does everyone in the HOA have to pay for it?

It just seems to be a steep payment if you bought a condo, lets say 2016, for 500k only to find out a few years later you'll be on the hook for another 100k. It's even more problematic if you consider that a lot of older folks live in these communities who may have bought decades ago when prices where cheaper or used their retirement funds and have no means to finance an additional loan.

Is this common? The cost of postponing repairs? Both?

submitted by /u/jrr24601
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source https://www.reddit.com/r/RealEstate/comments/o9qsc6/how_common_are_hoacondo_special_assessment_fees/
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