Condo’s Underfunded Reserve Creates Many Problems

C.R. from outside of Connecticut writes: Dear Mister Condo, I live in a condo building with 58 units. There are zero adornments except for a very nice meeting room. We have two elevators which travel eleven floors up and down. I am currently serving on the board. Our Reserve fund is at 18K which in my eyes is very low. We will need a major elevator repair in a few years and increasing insurance as well as a rooftop service plan. We have decided to increase HOA dues 15% = $3000. more each month or 20% increase equaling an extra $4000. per month. We want to propose this to our… Read More

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Community Association Issue… Where did EVERYTHING go?

Establishing a Record Keeping System For Your Condo or HOA Can Save You a World of Trouble When you need to Produce Them. Here is a cautionary tale: A big wind comes and knocks off the roof of one of your condo or HOA buildings and you put in an insurance claim. The insurance company is very happy to honor your claim, but they need to see the last seven years of maintenance records for this roof or they won’t pay. Unfortunately, in the last seven years your board has changed five times and you have been through three management companies and six on site managers. Nobody remembers anything; some… Read More

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Are We Better?

by Julie Adamen julie@adamen-inc.com The other day Dan asked me “What’s changed since you started managing (in 1987 – when it was Hip to be Square), and do you think the client experience is any better now than it was then?” He does this for a couple of reasons; one is out of curiosity, the other to get me thinking about an article for the NewsLine. The funny thing is, I really had to think about it. I know what’s changed: Technology. But is the client experience any better? In the late 80’s and early 90’s, the centerpieces of workplace technology were pagers, fax machines and electric typewriters. The majority… Read More

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Former Condo Board President Feeling Threatened by New President

W.R. from New Haven County writes: Dear Mister Condo, I been having serious issues with the new president and other board members since I stepped down a year ago. This position went to the new president’s head to the point where she put all my neighbor’s business out in the community and when my neighbor addressed her via email she then called the management company to tell them she felt threatened by her. Then we were going back and forth via email about some of the bylaws & rules and as well as rumors that she was talking trash about me, she turned around and falsely accused me of threatening… Read More

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