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Condo fees questioned between units of different size/construction

Posted on Fri, Oct 31, 2014 @ 07:00 AM
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We live in a Kentucky condo association.  There are 90 condo units that are 2,400 square feet and made of brick, and another 100 condo units at 1,800 square feet that are wood-framed with siding, etc.

In determining condo association fees, should the construction and cost of repair of the condo unit be taken into consideration in addition to square footage? It seems the smaller units require more frequent repair, yet condo association fees for the larger units are much higher.

8 Comments Click here to read/write comments

How can condo association cost effectively run emergency phone lines?

Posted on Tue, Oct 28, 2014 @ 07:00 AM
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I am a member of a North Carolina condo association, and have a question regarding condo unit emergency phone lines. We are required by law to have dedicated phone lines for the fire alarm and elevator, along with a backup phone line for the fire alarm. For three condo buildings, that is a total of nine business lines.

Does anyone have suggestions on alternative, more cost effective solutions?

2 Comments Click here to read/write comments

Own condo, but can't make assessment payments. What can the HOA do?

Posted on Sun, Oct 19, 2014 @ 07:00 AM
condo assessment fees past due

What if I own my condo free and clear, but can't pay my condo assessment fees. If I fall behind, say 8-12 months, how can the HOA collect the assessments? I live in Illinois.

11 Comments Click here to read/write comments

How can condo association deferred maintenance accounts be used?

Posted on Tue, Oct 14, 2014 @ 08:09 AM
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What exactly can condo association deferred maintenance and unallocated interest accounts be used for? I've always understood that these 2 accounts can be used for any reserve spending, such as elevator upgrade, painting, carpeting, roofing, paving, etc.

5 Comments Click here to read/write comments

Should homeowners be responsible for additional HOA assessment fees?

Posted on Thu, Oct 02, 2014 @ 09:16 AM
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I'm living in a two bedroom condo. The condo association raised the maintenance fees a few months ago. Now they want all of the owners to pay assessment fees for fixing the roof and parking lot. Should the homeowners be responsible for that fee?

7 Comments Click here to read/write comments

Dues collector too aggressive for condo association owners

Posted on Tue, Sep 02, 2014 @ 06:51 AM
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We have a special assistant to the treasure going and "collecting" dues the day after from other Condo Association Members. She is demanding payment and intimidates older owners into paying, and the board won't tell her to stop. Is this discrimination?

9 Comments Click here to read/write comments

Condo unit seller discloses pending association lawsuit to buyer

Posted on Tue, Aug 26, 2014 @ 04:53 AM
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I recently purchased a condo in Florida and the seller disclosed a pending lawsuit. I requested all information/documentation concerning the lawsuit and was told by his real estate agent the lawsuit was finalized and there was a $300 assessment that he would pay. After I closed I learned at the first HOA meeting the judgment was for $600,000 and each owner may be assessed $6,000, but the BOD decided to file bankruptcy and appeal the decision. Also, I was not made aware of a MOA or MOA dues but found out at the meeting MOA dues were suspended/stopped during the lawsuit but BOD are discussing reinstating them at $200 per month. Should I seek legal action against seller, seller's real estate agent, or my real estate agent?

11 Comments Click here to read/write comments

HOA Property manager is overcharging homeowners on monthly late fees

Posted on Thu, Jul 17, 2014 @ 07:40 AM
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My HOA hired a company that is overcharging homeowners late fees each month, even when the payments are on time. This company, the HOA board, and associations advisers have not been responsive to homeowners' inquiries regarding this concern.

What avenues or types of lawyers would you suggest I seek to aid in resolving this very horrible matter? I have documented everything, pay on time and have remained professional in my inquiries. Thank you in advance.

15 Comments Click here to read/write comments

HOA sub-association for road management getting out of hand with fees

Posted on Mon, Jul 14, 2014 @ 07:41 AM
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Our condo association formed a voluntary road association.  They have gotten out of hand in my opinion with dues, and now they want to make it a mandatory association. I'm willing to pay my portion of the plowing, but do not want to be forced to do anything else. Do I have that option, and if so how should I present this to them?

9 Comments Click here to read/write comments

How is simple interest calculated on condo fees and late charges?

Posted on Mon, Jul 07, 2014 @ 07:04 AM
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I am an owner in a condo association that is self-managed. I have agreed to help the Board of Directors with a spreadsheet that will track dues, payments, late charges and interest charges. The attorney for the condo association says that a simple interest calculation should be used instead of a compounding calculation.

I am a software developer and have programmed both simple and compound interest for mortgages, etc., but am not sure of how simple interest is calculated on dues and late charges. Can anyone help me with a specific step-by-step procedure?

7 Comments Click here to read/write comments

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