W.O. from New London County, Connecticut writes: Dear Mister Condo, If 40 owners in a 54-unit condo send in a proxy for an assessment and 35 are in favor, do we have a quorum to implement the assessment? Mister Condo replies: W.O., it really depends on your condo’s governing documents rules on voting for a…
Tag: Assessments
Where Does the Unused Money in the Reserve Fund Go?
H.L. from New Haven County, Connecticut writes: Dear Mister Condo, Our PUD consists of 19 individual fee simple owners of 4 family rental apartments totaling 76 apartments. The Association is comprised of each owner owning 1/19 of the property the buildings stand on. The owners contribute each month to the maintenance of the buildings and…
Condo Tennis Courts Getting No Love (or Money) from Association
J.G. from New Haven County, Connecticut writes: Dear Mister Condo, We have two tennis courts at our condos as one of our amenities. Very few of the residents use them. A few years ago, I mentioned at a condo meeting that there were cracks starting on the courts but the association voted to do nothing….
HOA Board Imposes Special Assessment to Rebuild Reserve Fund
D.D. from Mercer County, New Jersey writes: Dear Mister Condo, Can an HOA impose a Special Assessment to simply increase the Capital Reserve? The Board failed to fund the Reserve at an appropriate level in previous years and wants to catch up; no Capital improvements are planned. Mister Condo replies: D.D., New Jersey and several…