E.B. from Maryland writes: Dear Mister Condo, Our condo association wants to borrow $178,000 to refurbish our HVAC system. We know we cannot get a mortgage loan based on ownership of real property, but some states allow Associations to secure loans based on their ability to raise fees. Where do we find the relevant law?…
Category: Board
Condo Unit Owner Unhappy with Bulk Cable Provider
N.H. from outside of Connecticut writes: Dear Mister Condo, A condo owner does not like our cable provider and wants to either stop paying for the cable monthly or have us switch to another (faster internet speed) provider – who does not offer a bulk rate. The Board likes our current provider and is paying…
Cape Cod Condo Quandary
K.T. from Cape Cod, Massachusetts writes: Dear Mister Condo, We purchased the largest unit of 3 in a former single-family residence converted to 3 condo units in January on Cape Cod. The association is self-managed. According to the Master Deed our unit has 42.31% voting/ownership rights, next unit has 42.31%, the smallest end unit has…
Michigan Condo Maintenance Responsibility
A.R. from Michigan writes: Dear Mister Condo, My detached condo in Oakland County, MI is one of 188 units. Repairs are made by the condo for exterior walls, roofs, decks/railings. Maintenance and upkeep are required by the unit owner. My two-story deck in-ground corner support beams have wood rot/carpenter ant damage. The sprinklers on the…