L.L. from Litchfield County writes: Dear Mister Condo, How often should a condo complex’s books be audited? When they are audited, is the Board required to advise the owners that one has taken place and what the outcome was? Many thanks. Mister Condo replies: L.L., unless your condo documents require that the association conduct an…
Tag: Audit
Florida Condo President Facing Multiple Challenges
R.H. from Florida writes: Dear Mister Condo, My 24-unit condo by laws say that an audit must be conducted once a year. Florida statutes say every 3 years. In addition, the property manager pushed through a specific contractor and that was 3 times the price but the other directors back her up. I am the…
Condo Audit Requirement Law
A.B. from New Haven County writes: Dear Mister Condo, Are there any CT states law that require audits be performed on Condominiums? Mister Condo replies: A.B., in Connecticut, I am aware of no such law. Some states, like New Jersey, do require audits at certain intervals as a matter of law. It should be noted…
Condo Documents Call for an Audit
E.S. from outside of Connecticut writes: Dear Mister Condo, If only an audit is required by a condo declaration does it need to be “certified”? Mister Condo replies: E.S., the answer lies in your documents and state law. If neither the documents nor the law require a “certified” audit, then an audit may suffice. The…