H.H. from New Jersey writes: Dear Mister Condo, Does a special assessment, one that is designated and collected for monthly for three years, have to be put in a separate account or can it be transferred to a reserve account where it could be used for work other than originally specified? Mister Condo replies: H.H.,…
Tag: Assessments
Homeowner Requests List of Other Unit Owners Common Fees
D.M. from outside of Connecticut writes: Dear Mister Condo, I am quite certain I am being over-charged condo fees as compared to everyone else in the complex. I have asked my HOA for a copy of the list of condo fees everyone pays. I started asking last year and now I keep asking. One time…
Condo Board Pushes for Vinyl Siding Creating Burdensome Special Assessment
L.N. from outside of Connecticut writes: Dear Mister Condo, Our condo has put in reserves $25,000 for staining our condos next year. We were to be assessed for $35,000. The board is now pushing for vinyl siding instead of staining. This would cost $364,000. They are asking owners to vote if they want this instead. Some…
Condo Owner Questions Action of Previous Board President
D.A. from New York writes: Dear Mister Condo, We own in a 200-unit condo complex in New York.The complex is 35 years old and in a state of disrepair. The previous board president was a non-resident owner and real estate salesman who was more concerned with commissions on unit sales and rentals than the infrastructure…