What is the process of gathering funds from owners for operational expenses called?

The process of gathering funds from owners for operational expenses is known as assessment collection. This term specifically refers to the method through which condominium corporations collect fees from unit owners to cover the costs associated with maintaining and operating the property, including utilities, maintenance, and management services.

Collecting these assessments is vital for ensuring that the condominium has enough resources to function effectively and meet its financial obligations. The clarity and specificity of the term "assessment collection" accurately reflect the organized approach taken by management to secure necessary funding from individual owners, making it the correct choice.

The other terms offered do not appropriately represent this specific process. For instance, while "financial management" encompasses a broader scope of handling finances, it does not directly refer to the action of collecting funds from owners. "Collect revenues" similarly implies a general action of gathering funds but lacks the specific connotation related to owners' fees within the context of condominium management. "Operational fundraising" suggests seeking additional donations or funds outside of regular assessments, which does not accurately describe the routine collection of fees required for day-to-day operations.