Board Common Fees Condominium FHA Financial Governance Reserve Fund

Condo Reserve Fund Mortgage Advice

T.C. from New Haven County writes: Dear Mister Condo, From the point of view of a financial institution funding mortgages to acquire individual condo-units, what, in your opinion, is a good level of reserves for a condominium complex in terms of multiple of monthly operating expenses? How about % of assessed value of complex? Mister Condo replies: T.C., I am neither a lender nor a Reserve Study specialist so I can only provide my opinion…

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Board CIOA Communications Condominium Governance

Rescheduling the Condo Annual Meeting

D.L. from New Haven County writes: Dear Mister Condo, Is there a proper procedure for rescheduling an annual association meeting on the day of the meeting? Thanks! Mister Condo replies: D.L., there are a few reasons that I can think of for needing to reschedule an Annual Meeting on the day of the meeting. Once the annual meeting is announced all unit owners have a right to attend and should plan on doing so. If…

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Board Condominium Damage Governance Legal Neighbor Issues Rules Enforcement

Aluminum Wiring at Condo Unit of a Hoarder

P.D. from New London County writes: Dear Mister Condo, I have a hoarder compounded with aluminum wiring.  Is there a precedent for how to deal with this problem? Mister Condo replies: P.D., my short answer is “Yikes”! You have two very different and potentially very serious issues here. I am not sure which one should be tackled first but my instinct is that a lot of this will boil down to the association’s right to…

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Common Fees Communications Condominium Financial Rules Enforcement

Unit Owner Refuses to Issue a New Check for Common Fees to Replace Lost Check

N.W. from New Haven County writes: Dear Mister Condo, Condo owner paid monthly dues, but check was lost. Now the condo owner will not replace it. How do we get this condo owner to issue a new check? Mister Condo replies: N.W., sorry to hear that a common fee check was lost and that the unit owner who issued the original check will not simply issue a new one. Needless to say, there are many…

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