Dear Mister Condo, J.L. from South Carolina writes: I’m president of an 8-unit condo with no reserve. Current dues to each owner are $175, total, $1,400 monthly. By the time we pay all the routine bills and management $260/monthly, we are left w/ no money to do anything. I’ve tried to increase dues, but management tells me we…
Search Results for: common fee
How Are the Condo Common Fees Determined?
H.S. from Cook County, Illinois writes: Dear Mister Condo, Could you please explain how the monthly condo association fees are calculated? The property is a mixed-use, fourteen-unit building, 12 residential, and 2 commercial. Exhibit B clearly lays out the percent due of each residential unit and totals 100%. Then, it lays out the percent for each commercial…
Condo Owner Wants to Know if He’s Paying Too Much in Common Fees
A.P. from Queens County, New York writes: Dear Mister Condo, Being a condo owner, do I have the right to ask how they did with all bills for common charges? I want to know how much money they charge to individual owners for common charges for HOA fee. I want to find this out because…
Fairness of Common Fee Formula Questioned
M.W. from North Carolina writes: Dear Mister Condo, We live in a 9-unit condo association. There are 3 buildings: A, B, and C. Buildings A and B each have 4 units. 2 of these units are UPPER units with approximately 2500 square feet and include 3 bedrooms, 3 1/2 baths and 1 and 1/2 stories….