Condominium Financial Governance

Condo Accounting Question

B.F. from New Haven County writes: Dear Mister Condo, What’s the difference between operating expense and non-operating expense? Mister Condo replies: B.F., I love a good condo accounting question but since I am not an accountant, I decided to ask Sam Tomasetti, CPA of Tomasetti, Kulas & Company, P.C. to give us a proper answer. Here’s what Sam had to say: Since condominiums use fund accounting, the bookkeeping is laid out in such a way…

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Condominium Damage Financial Insurance Legal Neighbor Issues

Upstairs Condo Unit Remodeling Nightmare

E.S. from Middlesex County writes: Dear Mister Condo, The owner of the unit above mine installed defective sliding doors which leak into my unit like it is raining. I was told it was fixed but it is still happening. The condo association has said it is not responsible for the damage to my unit and it will not repair my unit. Also, the unit above mine is totally gutted with exposed wires. There is no…

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Architectural Compliance Board Condominium Damage Governance Legal Neighbor Issues Windows

New Window Installation Proving to Be a Pane

J.J. from New Haven County writes: Dear Mister Condo, I would like to install a new window in my unit where one does not currently exist. While association approval is required, a member of the association is demanding a form stating that I, as the owner of the unit, will be solely responsible for any damages to his unit (not the master shared “all-in” master insurance.) Should I sign this in order to get his…

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Common Fees Condominium Financial Governance Legal

Stalled Foreclosures Crippling Condo

J.P. from New Haven County writes: Dear Mister Condo, Our HOA currently has 4 foreclosures and is on the road to as many as 8. The court system is slow moving and takes forever to judicate the current foreclosures. The other 4 heading down the same road have put a major strain on our current financial picture. Where can the association find the Notice-of-Lien form to send to the owners who are on the threshold…

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