The monthly assessment you pay to your condo association is to cover the maintenance and other expenses for the condo association. The annual assessment you pay to Wood Lake Residents Association is to cover the expenses for the property elements that Wood Lake Condominiums, Woods Glen Condominiums, Woods Glade Condominiums and some of the neighboring single-family houses share ownership of. This includes the pool, clubhouse, lakes, tennis courts, playgrounds, entrance monument sign and landscaping, and other common grounds.