J.A. from New Jersey writes: Dear Mister Condo, Is there any New Jersey law that requires budgeted amounts to be completely used up in the budget fiscal or annual year? If our snow budget amount is not used because of lack of snow removal in a given year: CAN THE BALANCE THAT WAS NOT USED…
Tag: Common Fees
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…
No Money in the Condo Budget for Snow Removal!
A.R. from New Haven County, Connecticut writes: Dear Mister Condo, The condo association decided to stop providing snow removal services “to save money”. Our dues increased 25 percent a few months ago due to higher insurance costs. The budget approved by the board includes a substantial amount for snow and landscaping, yet the yard is not being…
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…