Board Common Fees Condominium Financial Governance

Delinquent in Assessments But Still on the Condo Board

M.K. from Fairfield County writes: Dear Mister Condo, Can members be on the Board who are delinquent in common charges or are in foreclosure? Mister Condo replies: M.K., unless the community association governance documents state otherwise, the answer is “yes”. However, unless there are no other candidates for their Board position, there is no reason the association members shouldn’t seek a member in good standing with the association to serve when the next election cycle…

Continue reading

Board Common Fees Condominium Financial Governance Reserve Fund

Required Condo Reserve Study in Ohio?

R.D. from Ohio writes: Dear Mister Condo,   In Ohio, can a condo owner act as Associate Treasurer and must there be a Reserve Study of the Association Made?   Mister Condo replies: R.D., I am not an attorney so I cannot speak to specific laws in your state. You can see a graph prepared by the Community Associations Institute (CAI) of what states require Reserve Studies by Statute here. Ohio isn’t listed as a…

Continue reading

Condominium Financial Governance

Condo Deck Spalling Project Creates Additional Unit Owner Expense

M.M. from outside of Connecticut writes: Dear Mister Condo, If the condo HOA has contracted with a firm, using funds from an assessment, to do spalling on your deck, is the condo owner responsible for paying for tile removal and replacement and also a sliding glass door replacement they say needs to be removed to do the spalling? Mister Condo replies: M.M., that is a tricky question. My gut instinct is to say that the…

Continue reading

Board Condominium Damage Financial Governance Insurance

Condo Insurance Check Issued to Unit Owner for Building Damage

S.F. from Fairfield County writes: Dear Mister Condo, Insurance check for house damage was made payable to a condo owner, who is the brother of the president of the condo association. Why did the insurance company allow this? Check amount was substantial, for several thousand dollars. Mister Condo replies: S.F., there are a few reasons that the condo owner was reimbursed directly for an insurance claim. For starters, the policy holder typically designates the payee.…

Continue reading