I lived in a condo which was 2/3 owned by one corporation. The high-cost maintenance that only happens every 20-50 years was NOT amortized into the HOA fee. It

I lived in a condo which was 2/3 owned by one corporation. The high-cost maintenance that only happens every 20-50 years was NOT amortized into the HOA fee. It was expected that special assessments would pay for such things. And the corporation for its part was happy with that arrangement. In the short term the regular HOA fee was lower.