T. from New Haven County, Connecticut writes:
Dear Mister Condo,
I live in a condo with less than 10 units. Are all condo associations required to have an operating agreement even if there is no management company?
Mister Condo replies:
T., all condo associations have a Declaration which outlines how the association is to be governed or operated. As an owner, you should have been provided this documentation as part of your real estate closing transaction when you took possession of your condo. Even in a smaller condo like yours, the Declaration spells out what is owned individually by the unit owners and in common by the condo association. Condo owners routinely refer to the Declaration to understand how their condo is run, with or without a management company. So while condo associations may not be required to have an operating agreement, they most certainly are required to have a Declaration. Thank you for the question.