Condo Board Facing Developer Transition Mess

A.L. from New Haven County writes:

Dear Mister Condo,

I have just been appointed to the Condo board. We are to the point now that the sponsors have relinquished their board seats and basically left a mess. We still have their management company and lawyer. What should we do as a first step in these unchartered waters?

Mister Condo replies:

A.L., I am not sure what you mean by a “mess” but even in the best case scenarios the period of time when an association transitions from developer to unit owner control can be challenging. It will take a lot of effort and thought to protect your association from future problems. It may even take a bevy of professional help including a Property Manager, an attorney specializing in community association law, an accountant, and even a Reserve Engineer to help take you down the correct path to successful community association governance.

Mister Condo has a list of previously “asked and answered” questions from folks in your situation. Take a look at https://askmistercondo.com/?s=developer+transition and see what has been suggested for an idea of which path best suits you. Good luck, A.L.!