B.M. from outside of Connecticut writes:
Dear Mister Condo,
Can a condo board spend money on things are not part of our common area? They want to do something on private property. Thank you!
Mister Condo replies:
B.M., without knowing all of the specifics it is difficult to give you a full answer. The Board is made up of volunteer leaders elected from within your condo association. As such, they are charged with governing your association, which includes how funds are spent from the common fees collected. If the Board has come to the conclusion that this means making an offsite expenditure, then they are likely within their rights to do so. However, all monies need to be accounted for and records need to be made available to all unit owners upon request. If they are spending $100 to be a sponsor in a local Little League or something civic in nature like that, there may be no foul. However, if they are spending thousands of dollars to construct a swimming pool at the property manager’s home, you have every right to be concerned. If you and other unit owners are concerned that your common fees are being misappropriated, it might be time to get some new Board members. They are elected to conduct association business and protect association assets. If they aren’t doing that, it’s time for some new Board members. All the best!
1 thought on “Condo Association Money Spent on Private Property”
As part of many declarations the board will need to get a specific percentage of owners to vote for it…reviewing the dec and laws within your state are advisable on this issue and also consulting a knowledgeable attorney that practices in the area of