A.M. from Lee County, Florida writes: Dear Mister Condo, In our condo neighborhood, each unit has one assigned carport parking space per unit. However, there are plenty of parking spaces. I just don’t think it’s fair for residents to have to take whatever is available if they have no carport. I don’t understand why each…
Reserve Fund Credit for Condo Sellers
P.T. from Erie County, New York writes: Dear Mister Condo, Regarding a condominium’s capital reserves: when an owner sells his unit, is he also entitled to receiving a credit from the purchaser for the amount of capital reserves (the pro-rata amount based on the total number of units) on account at time of the sale?…
Condo Reserve Fund Contribution versus Operating Fund Surplus
C.D. from Sarasota County, Florida writes: Dear Mister Condo, Florida condo. Budgeting – I understand there are 2 parts to the budget: a. the yearly operating budgetb. the reserve budget (spending plan). Our membership votes annually to approve the operating budget proposed by the board, and separately approves our reserves spending plan (we are “pooled reserves” although…
Condo Board Seasonally Turns Off Water Heater Rendering Laundry Room Useless
K.F. from Ottawa County, Ohio writes: Dear Mister Condo, Our buildings have 5-6 units each. In each building there is a community laundry room. Each load of laundry to wash and also to dry is $1.25. Just received word from the Board that they will be turning off the hot water tank in the laundry…