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HOA manager neglected to set up reserve account and add funds

| Condo Reserves |   Property Management |  


Question:

My husband and I live in a four-unit condo in CA that is five years old. Two years ago, our four residents voted to raise our condo dues to start funding our reserves. $112 per month was supposed to go into reserves. Now we find out that there are no reserves because our HOA manager neglected to set up a separate reserve account. What recourse do we have?


Answers (6)

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