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CondoAssociation.com
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What is standard practice for how frequently financial reporting is provided to condo and HOA owners?

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Do most condo associations and HOAs raise their fees to match inflation. The CPI seems like a good way to do it.

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I no longer live in my condo unit, but continue to receive a water bill. I called the utility company to turn everything off completely, but they say they cannot. I never signed a contract with them, my HOA did. Now I am past due and they are threatening "more action". What can they do legally? (In Florida)

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We have two communities that share the pool. We have a contract that states there is to be a "Committee" to manage and operate the shared property. The BOD of each community has done the managing. My association finally set one up in January and I am on that committee.

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We are changing to a new management company. we are opening up a new bank account under our building name using my information as the primary person on the account . Is this normal practice?

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I live in a 32 unit bldg; it is 30 years old. Due to termites, all the common area surfaces were replaced, including decks, railings, etc; the siding was replaced with Hardee board type material. After the work was finished, we were "special assessed" about $30K. I would like to know if I can claim it on my taxes. - either state and/or federal. And if so, how do I do it? Thank you. Sorry if this is a duplicate. I am uncertain if the first attempt was sent successfully.

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Back in May I sold a condo in Chicago, right before my closing date I received the email from association that we will have a special assessment meeting set for a date two days after the closing. Since my buyer asked if I am aware of any special assessments

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Accountant (from management company) bounced a check (because he closed the bank account and moved it to another bank) and wrote a check from the new bank to cover the NSF charges. Is this good accounting practice?

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What is the purpose of an HOA audit? How often should they be done? Are audits necessary? is there a VA law that states that this must be done? What is the average cost? We are a 45 home HOA...not a lot of money, not a lot of services required.

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How is it determined what is paid from RESERVES and what is paid from GENERAL MAINTENANCE fund when planning the yearly budget?

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.

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