Condo Q&A

Should our condo association have kept funds separate?

Written by CondoAssociation.com | Thu, Oct 15, 2009 @ 02:03 AM

My condo building has a separate 5 unit garage. The garage is 20 years old and needs to have the roof replaced. I maintain that because the condo unit owners pay an extra percentage in condo association dues that those funds should have been separated for garage-only expenses.

Instead they were co-mingled with condo building reserve funds and now the building is having a special assessment to cover the expenses (we are replacing the garage roof and shingles a long with main building shingles).

Was this handled correctly? Going forward should the garage portion of condo association dues be separated or is this being too picky. We are only a 12 unit condo association. Thoughts please.