B.S. from Lee County, Florida writes: Dear Mister Condo, Is my condo association allowed to carry $19,000 of debt due to shortfall in the roof reserves instead of an assessment? Mister Condo replies: B.S., I am sorry that your association is carrying debt. Ideally, the Reserve Fund would have been better funded but that apparently…
Tag: Assessments
Condo Fees for Move-Ins, Move-Outs, and Everything in Between
L.R. from Fairfield County, Connecticut writes: Dear Mister Condo, We are a 64-unit complex in Stamford, CT. I’m trying to figure out what is a fair move-in fee for rental properties. Currently there is a $250 move-in fee and we have no move-out fee. In addition, there’s a $25 lease-filing fee and a personal automobile,…
Condo Owner Ordered to Pay Association Court Costs
M.C. from Nevada writes: Dear Mister Condo, A Small Claims Court has ordered that I (a non-owner) pay court costs to my Association. I intend to fully comply. My Question is: I believe my HOA (in Nevada) is registered as a Business with a Business License. Can I expect to receive a fully itemized Bill listing…
How Much Can the Condo Board Round Up Fees?
K.S. from Massachusetts writes: Dear Mister Condo, Our board and management deleted our capital reserves on a roof project and has since obtained a loan for it. We have 3 types of condos with 3 different percentages of ownership. They have increased our condo fees and have also added on a capital reserve fee and…