A.R. from New York City writes: Dear Mister Condo, There are two men on our board of directors. One is a dictator and has been handling our books for 25 years for no pay. The other person simply co-signs the checks to pay bills. No one wants to volunteer to be on the board. As…
Category: Board
HOA Board Imposes Special Assessment to Rebuild Reserve Fund
D.D. from Mercer County, New Jersey writes: Dear Mister Condo, Can an HOA impose a Special Assessment to simply increase the Capital Reserve? The Board failed to fund the Reserve at an appropriate level in previous years and wants to catch up; no Capital improvements are planned. Mister Condo replies: D.D., New Jersey and several…
Condo Board Changes Use of Special Assessment Funds
H.H. from New Jersey writes: Dear Mister Condo, Does a special assessment, one that is designated and collected for monthly for three years, have to be put in a separate account or can it be transferred to a reserve account where it could be used for work other than originally specified? Mister Condo replies: H.H.,…
Condo Landlord Loses Ability to Rent Condo Unit
M.A. from Dupage County, Illinois writes: Dear Mister Condo, I own a first-floor condo unit that is used as rental property. The unit above mine has a flooring issue that is related to the support beams in my ceiling. The ceiling is being torn out of my unit from the dining area through the living…