The $5 million assessment for a new HVAC system at Landmark Towers in Phoenix would cost each condo owner at least $15,000.

PHOENIX — Francine Hardaway's bill from her condominium homeowners association arrived unexpectedly by email in May.
The air conditioning at Landmark Towers in Phoenix needed a major fix, and her share to pay for it was $18,000.
"I was horrified and frightened," said Hardaway, founder of Phoenix-based Stealthmode Partners. "When I bought my condo in 2011, it was at the height of the recession. I bought it for cash thinking that if everything went to hell in a handbasket, I could live there."