T.C. from New Haven County writes: Dear Mister Condo, From the point of view of a financial institution funding mortgages to acquire individual condo-units, what, in your opinion, is a good level of reserves for a condominium complex in terms of multiple of monthly operating expenses? How about % of assessed value of complex? Mister…
Category: Board
Rescheduling the Condo Annual Meeting
D.L. from New Haven County writes: Dear Mister Condo, Is there a proper procedure for rescheduling an annual association meeting on the day of the meeting? Thanks! Mister Condo replies: D.L., there are a few reasons that I can think of for needing to reschedule an Annual Meeting on the day of the meeting. Once…
Aluminum Wiring at Condo Unit of a Hoarder
P.D. from New London County writes: Dear Mister Condo, I have a hoarder compounded with aluminum wiring. Is there a precedent for how to deal with this problem? Mister Condo replies: P.D., my short answer is “Yikes”! You have two very different and potentially very serious issues here. I am not sure which one should…
Florida Condo Renter Questions Who is the Real Landlord
J.D. from Florida writes: Dear Mister Condo, I began renting a one bedroom condo in late November, located in New Port Richey, FL. I was not given a lease nor provided with one even though I have asked for a lease several times. As I was unemployed at the time, the “landlord” agreed verbally that…