Board Common Fees Condominium Governance Volunteer

Condo Board Discontinues Irrigation Program; Risks Curb Appeal for Savings

A.W. from outside of Connecticut writes: Dear Mister Condo, Our Association Board proposed decommissioning irrigation system in order to avoid raising our dues. We have 88 units, older population on a fixed income, but one of the nicest Condo Associations in the city. Our dues have not been raised for 5 years. While this looks like an easy fix, it is a temporary solution which would eliminate (damage or deteriorate) our property (assets). We were…

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Board Common Fees Condominium Financial Governance Reserve Fund

Small Condo Reserve Fund Basics

S.B. from Chicago writes: Dear Mister Condo, I live in a Chicago 4-unit condo building (there are hundreds of these in Chicago). Our building is worth approximately $2 million, and was built in 2005. Total square feet is approximately 6000. We have no elevator. Insurance makes up almost half our annual spend. I am treasurer. Our reserves grew to about $30K two years ago, and have been depleted down to $20K in last 2 years…

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Board Condominium Governance Insurance Neighbor Issues

Second Floor Added to Condo Being Reported as a Second Condo!

T.C. from outside of Connecticut writes: Dear Mister Condo, I own a condo in a four-unit complex. I am bidding out insurance. A woman at one insurance company, told me she insures my neighbors two condos in our complex. He only owns one condo, although his second floor does have its own entrance. They were all originally one story units, but he added a second floor. Zillow lists his place as two condos. How does…

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Communications Condominium Financial Governance Legal Voting

How Do You Hold a Condo Annual Meeting?

P.S. from Hartford County writes: Dear Mister Condo, What is the process for holding an annual meeting? Mister Condo replies: P.S., the Annual Meeting is the most important meeting of the year for condo unit owners. Two very important pieces of business need to be done here. Board Members need to be elected and a budget needs to be ratified. The Annual Meeting is where both of those things should be done. Notice is of…

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