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CondoAssociation.com
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In Massachusetts can unit owners be sent to collections for owing special assessment fees

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“Dues Paid to Treasurer” and it is a line item under Equity. Has anyone seen a line item like that on their condo association Balance Sheet

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What is the point of a financial audit for an HOA or association? Does board need to sign off on it? Does property manager need to abide by it?

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What happens when an owner files for bankruptcy?  Is he still obligated to pay his condo fees?  How does condo association to get paid as a creditor?

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Do due diligence before buying into a condo association, My advice to buyers and their realtors is ASK! Before you buy.

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Condo Association had major roof damage. Received a check from Insurance Company. Roofs have no book value. Whats proper way to record theses transactions.

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The condo I put an offer on has an association without 10% in reserves.  I was told my FHA loan can not be approved unless I come up with a bigger down payment.  Any ideas?  I am in New Jersey. 

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The number of investor-owned units in our 200-plus-unit building will soon eclipse the number of owner-occupied units.

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In a Virginia annual condo membership meeting can THE Financials be excluded from the agenda?

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Our condo association once filed taxes with the IRS but stopped filing required tax forms to the IRS. The board has used the old tax exempt number throughout the years without filing taxes.

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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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