H.W. from Fairfield County writes: Dear Mister Condo, Our 306-unit condo is now at 48% rentals. The Board relies on a manager to do this type of work. What will happen when we get to 50%? Mister Condo replies: H.W., thank you for writing. There are many challenges to managing and living in a community…
Tag: FHA
Condo Let Lapse FHA and VA Certification
C.W. from New Haven County writes: Dear Mister Condo, Our complex has always maintained FHA/VA certification. This certification certainly can be viewed as either a positive or negative by some. As I understand it, last fall the government separated the two, requiring two separate certifications. My complex let the certification lapse and then chose only…
Condo Reverse Mortgage Woes
R.H. from Wisconsin writes: Dear Mister Condo, I am president of a condo association. Currently we have 11 existing buildings that are occupied (2 units per building). There still are 7 more buildings that will be built in the coming years. We basically have 58% of the project built and completed. I understand that you…
Hardship Case Causing Condo Rental Cap Chaos
H.S. from outside of Connecticut writes: Dear Mister Condo, Our association passed an amendment to the CC&R’s capping the rental of units at 17. We have 66 units. This was done in 2006 to help us keep FHA funding. Our last management company let it slide, so our new management company has gone through the…