<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">

    Did condo association increase fees too much?

    My condo just gave me notice of a 4.9% increase. I thought there was a certain % they were allowed to raise each year like 2.99%. My condo is 30 yrs old. Am I right or are they right?
    Read More...

    Should balconies be considered in calculating condo fees?

    We have condo 40 units on 8 floors in NY. Percentage of ownership was calculated based on square footage of each unit. Common monthly charges are based on the same percentage. The fact is that some units with the same SF and plan have different size of terraces or balcony. For example same unit on 7th floor has balcony size 140 SF, but unit on 3 floor has terrace 10 times larger - 1,400 SF. Are there any legal ways to change common charges to include proportional for size of balcony or terrace additional charge : for example in the form of surcharge $0.50 per SF of balcony on annual basis. Thank you.
    Read More...

    Developer turns association funds over to bank in foreclosure move

    Our developer has turned our property over to the bank with a "DEED IN LIEU OF FORECLOSURE" at that time he owed the association $9,873. Does the Association have recourse against the bank to recoup those funds. We are a small community of 56 units and are looking at a major repair bill, because the developer opted to install rebuild equipment. Anyone in the same situation?
    Read More...

    Does condo association need to repair damages to foreclosed unit?

    About two years ago a condo in our association went into foreclosure. It took that long to settle up with everything. In December it was finally sold and the new owner took over. The old owner did not give it back to the bank and left it go all the way to the foreclosed state with all the legal stuff that they do with it. Sheriff sale, short sale, second sheriff sale and then it finally foreclosed on. Before the whole mess started the old owner had water damage in the unit and never reported it to our property management service. When she vacated and moved on and then her mortgage company took the necessary steps to resell the unit again it was never reported to our management. I know for I was on the board at the time everything went down. Now today the new neighbor wants our management service to pay for the water damage. Since we never knew about this and the old owner did not give the unit back to the bank, she left it go into foreclosure and also filed bankruptcy. We continued to bill her for the condo fees, but when the final out come was turned over, we could only get back 6 months of condo fees not 2 years, because the old owner left it go into the foreclosure status instead of giving it back to the bank that held the title. Lengthy process. Now my question is this..... Are we responsible to fix the damages to this unit. The new owner saw the damages and tried to negotiate with the new Realtor and they would not budge on the price. Now she wants our management service to pay to have this fixed. Can she do that? And are we responsible to fix it. The damaged came from the roof itself,but. I say since it was never reported number 1 and number 2 this was a foreclosed unit bought that way. What are our rights to this situation? Are we responsible to fix it or is this on the new owner to fix it herself. She purchased it with cash as and as is unit? Any help is appreciated. I say I am right and I want to make sure management does not pay for any of this out of our money.

    Read More...

    What should HOA do about delinquent owner?

    What restrictions, including limited common area property (parking pad) can be enforced on a condo owner who is more than 90 days in arrears in monthly condo fees and has a foreclosure lien on the condo?
    Read More...

    Can condo board play favors with fee relief for certain owners?

    Can a board give 2 or 3 months free association fees to a delinquent co-owners without giving the same to all co-owners?
    Read More...

    Owners refusing to pay assessment to bring condo building up to date

    I live in Illinois and am on the board for our association. We took over a mess from the previous people and owe several thousand dollars. The heat and hot water are common in the assessments. We voted to have a special assessment to bring things up to date we have 30 units - 5 in foreclosure. 16 people have paid or are making the arrangements and 9 have not responded. We spoke to some of them who basically said they are not going to pay. What action can we take or who should we contact in our state.
    Read More...

    Can condo association take over delinquent owner's unit?

    Recently purchased a condo at the Jersey Shore. Have since been elected to the board. An owner is months behind on his HOA fees and has rented his unit. Can we as an association legally collect rent from his tenants. Water and sewer are included in HOA fees can we shut off his water?
    Read More...

    Condo owner needs to pay mortgage and all association expenses

    I am living in a condo two bedroom where I pay a mortgage.  The association raised the maintenance fee a few months ago. Now they want all owners to pay assessment fee for fixing roof and parking lot. Should home owners pay that fee?

    Read More...

    Can delinquent homeowner be elected to HOA board?

    Can a Homeowner run for the Board of Directors if that homeowner is more than 90 days delinquent in his monthly dues.

    Read More...

    Subscribe to Email Updates

    Need an HOA Loan?

    Most Popular Blog Posts