A.D. from Cook County, Illinois writes: Dear Mister Condo, I am inquiring about my aunt who lives in a 6-unit condo and had damage done to her condo from the unit owner above. The damage was $350.00 and my aunt presented the bill for the damage and the unit owner refuses to pay. Is there…
Month: March 2020
Condo Board Misusing Executive Session and Offering Improper Meeting Notice
S.H. from Broward County, Florida writes: Dear Mister Condo, We have a new board. The new president called a “mandatory meeting” of the board of directors for early February with only 2-days notice. He stated under agenda that the topics were the pump (we have been having issues) and the “association reserves (sensitive issue that…
Condo Board Decides to Carry Debt in Lieu of Assessment
B.S. from Lee County, Florida writes: Dear Mister Condo, Is my condo association allowed to carry $19,000 of debt due to shortfall in the roof reserves instead of an assessment? Mister Condo replies: B.S., I am sorry that your association is carrying debt. Ideally, the Reserve Fund would have been better funded but that apparently…
Condo Reserve Fund Determination
P.S. from Waukesha County, Wisconsin writes: Dear Mister Condo, How do you determine how much money should be kept in your reserves? Mister Condo replies: P.S., I always like to say that Reserve Funds are part science, part common sense, and part crystal ball! The science is pretty simple. Every single common element owned by…