When it comes to financing capital repairs for condos, it is best for boards to give unit owners as few options as possible.
If boards decide to offer unit owners different options, one person might want to pay the whole amount up front, while somebody else might want to pay a portion upfront and then pay the balance over time, while somebody else may want to pay in two installments. Additionally, if the board is looking to secure a bank loan to finance the repairs, they will need to calculate interest for all of the options provided to unit-owners.
Eventually, it becomes an accounting nightmare for the association to keep track of every unit and which option they're using.
Find out how to best handle the financing of capital repairs, here.