Assessments Board Common Fees Condominium Financial Governance Reserve Fund

Can’t Find Money to Fund the Reserve Fund!

J.D. from Fairfield County writes: Dear Mister Condo, We seldom have enough money left over for a reserve fund. We are approaching a large capital expenditure. Is it true the reserve fund can only be a certain % of a condos annual income? If so, how does one save for capital expenditures? We are less than 10 units in size. Owners do not want to raise common charges or fund a reserve fund. I am…

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Board Common Fees Condominium Financial Governance Legal Volunteer

Delinquent Board Member Must Step Down or Be Removed

M.K. from Hartford County writes: Dear Mister Condo, Can we ask a board member to step down if he is delinquent on is condo fees? Mister Condo replies: M.K., not only can you ask a Board member to step down if he is delinquent in his common fees, your by-laws may require that you do so! Can you honestly tell me that a unit owner that has allowed his common fees to lapse to the…

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Board Communications Condominium Governance

Religious Meetings Conflict With Board Meetings

L.M. from Fairfield County writes: Dear Mister Condo, I was requested by certified letter to attend a board hearing. I have weekly religious meetings on the night scheduled. I informed my board that I would be willing to meet any other day or evening that wouldn’t conflict with my religious instruction meeting. Do I have any rights regarding this situation? Mister Condo replies: L.M., as far as I know, the Board is not under any…

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Condominium Financial Governance

How Long Must Condo Records Be Kept?

M.B. from Hartford County writes: Dear Mister Condo, How long do you hold financial reports and minutes of meetings? Mister Condo replies: M.B., there has been much debate on how much and how long various condominium association records should be kept. In a perfect situation, minutes from every meeting and all financial reports would be kept indefinitely. Realistically, that isn’t likely to happen due to the nature of change amongst Board members, management company personnel,…

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