K.W. from New London County, Connecticut writes: Dear Mister Condo, Bought a condo almost 2 years ago and just now found out that the association does not own the land that the condo sits on. In fact, the land is owned by a Mortgage Company and is currently up for sale. What are my rights…
Special Assessment for Possibly Limited Common Area Parking Lot
C.M. from Hartford County, Connecticut writes: Dear Mister Condo, My complex is only 24 units (6 buildings). Built in 1989 and bylaws are quite outdated but we can’t afford to update right now. We’ve had a few special assessments in the past year so finally got a copy – reading and researching. Couple of things. We…
Responsibility for Condo Damage from Porch Water Runoff
E.P. from Hartford County, Connecticut writes: Dear Mister Condo, Our 17-year-old condo association in made up of stand-alone Units of which about 10 have 3-season porches installed on concrete slabs. During heavy rain or rain with high winds there is leakage on several Units at base of the porches and around the windows. We are…
Condo Surplus of Funds Can be Transferred to Reserve Fund with Proper Vote of Owners
D.M. from Hartford County, Connecticut writes: Dear Mister Condo, Our small common interest property ended the fiscal year with a surplus of funds. How should these funds be accounted for? Can we simply vote to deposit to our long-term capital account? Mister Condo replies: D.M., I am happy to hear that your association had surplus…