V.H. from Massachusetts writes: Dear Mister Condo, If our half of the roof is bad and needs replaced must our neighbor do the same? Mister Condo replies: V.H., as you may have noticed, I get many questions from owners of particularly small associations like yours. When there are two owners making up the association, problems…
Category: Reserve Fund
Condo Owners Question Special Assessment When Reserve Fund is Available
K.L. from Outside of Connecticut writes: Dear Mister Condo, Should repairs be paid for from reserves or special assessment? Our 30-unit condo is looking at a $200,000 bill to replace and reroute utility lines that apparently weren’t properly installed when the complex was built in the early 2000’s. We have a little over $400,000 in reserves….
Lack of Maintenance by Self-Run Condo Board
D.T. from New Haven County writes: Dear Mister Condo, The self-run condo board is not taking care of the maintenance of our complex. Shingle, roof, painting and paving have not been addressed in years. We pay on an average of 350.00 a month in HOA fees. What recourse do the owners have to get action and…
Condo Owner Surprised by Special Assessment
T.S. from Massachusetts writes: Dear Mister Condo, My condo association is planning on replacing all the roofs. We got a letter stating we will have to come up with almost 9,000 dollars or have a monthly increase of 200.00 for 60 months. Can they make us do that? Also, they are having a meeting. In…