D.N. from outside of Connecticut writes: Dear Mister Condo, After living in my condo unit for many years, the roof recently came off during a rainstorm. The Association’s master policy is paying for the property damage which means they will put the home back to the state it was sold to me. However, do I…
Tag: Reserve Fund
Condo Owners Reluctant to Pay Proper Common Fees
K.I. from New Haven County writes: Dear Mister Condo, I serve as board president for a small association. The Treasurer and I are the only unit owners who have any interest in serving in more than name only. Despite our best efforts, we can only seem to get the unit reps together annually to discuss…
Unusual Items Paid for by Condo’s Reserve Fund
E.I. from writes: Dear Mister Condo, Are Condominium Associations permitted to use Reserve Funds to purchase and install items within units such as intercoms or programmable thermostats. Are these items considered common or non-common items? Each unit receives their own separate electricity bill for which they are responsible for. Would this be different for the…
No, the Condo Reserve Fund is not the Board’s Cookie Jar!
B.C. from outside of Connecticut writes: Dear Mister Condo, Is a Reserve Fund to be used for only the intent that describes the Reserve Fund or can the money be taken and used elsewhere for replacement of an item normally taken care of by maintenance. This item is an accessory item and has no bearing…