J.L. from Connecticut writes: Dear Mister Condo, What is the average percentage of the annual reserve annual set aside by Connecticut condo associations? Mister Condo replies: J.L., great question! Reserve Funds vary by association and there is no such thing as an “average percentage” to set aside because each association is different and each has…
Month: January 2020
Unregulated Condominium Boiler Creates Scalding Water Hazard
A.D. from Cook County, Illinois writes: Dear Mister Condo, I live in an older condominium building in Chicago (15 units). We all share the same water heater, and the water for my unit which is almost the farthest from the water heater reaches 135F. I can imagine that units closer to water heater are reaching 140F….
Condo & HOA Board Executive Session Rules
R.J. from New Haven County, Connecticut writes: Dear Mister Condo, What are Executive Session rules? Mister Condo replies: R.J., Condo and HOA Boards use Executive Sessions to discuss matters that are typically of a private or privileged to the Board. Most common are legal issues and disciplinary actions against vendors or members. There are some…
When Do Mortgage Companies Pay HOA fees?
C.R. from Bucks County, Pennsylvania writes: Dear Mister Condo, Do mortgage companies ever pay HOA dues other than the initial few payments? Mister Condo replies: C.R., it is not unheard of for mortgage companies to pay HOA dues in a few circumstances. Banks and mortgage companies do not typically do this but there are a…