Board Common Fees Condominium Financial Governance Legal

Can A Group of Condo Owners Lend Money to the Association?

G.H. from Middlesex County writes: Dear Mister Condo, Can an owner loan the association money? We were in the midst of estimated $6k repairs to the exterior of the building when one of our Unit owners put their unit on the market. The contractor indicated the problem was more severe than they initially thought and advised us to contact insurance. Insurance sent an adjuster. Meanwhile, our unit owners got antsy and got a second contractor’s…

Continue reading

Board Condominium Financial Governance

Frequency of Condo Book Audit

L.L. from Litchfield County writes: Dear Mister Condo, How often should a condo complex’s books be audited? When they are audited, is the Board required to advise the owners that one has taken place and what the outcome was? Many thanks. Mister Condo replies: L.L., unless your condo documents require that the association conduct an annual or periodic audit, there is currently no legal requirement to have one performed in our state. That being said,…

Continue reading

Board Condominium Governance Legal Volunteer Voting

Condo Board Members Vote by Email; Changes Vote After the Fact

D.L. from Fairfield County writes: Dear Mister Condo, Dear Mr. Condo – I am a unit owner in a 26-unit condominium. The Board of Directors voted unanimously via email to hire a contractor to perform emergency work due to the flooding of a unit by a renter. Approximately two (2) days after the vote the Secretary notified the Management Company and the Board that she was changing her vote after speaking to the homeowner whose…

Continue reading

Board Buying Condominium Governance Renting

Must the Landlord Furnish a Copy of the Lease to the Condo Board?

C.M. from New Haven County writes: Dear Mister Condo, Can a condo board ask for references from potential buyers or renters? Must a landlord furnish the lease to the board? Mister Condo replies: C.M., two very different topics there. Let’s start with the references from buyers or renters. Depending on what the by-laws say, the Board may be well within its right to ask for references, credit checks, and whatever else is in the by-laws.…

Continue reading