Ask Experts Questions for FREE Help !
Ask
    jua's Avatar
    jua Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Mar 26, 2009, 06:04 AM
    Can a Condo Assoc. charge an assessment on top of another?
    I am a condo owner and my Condo Assoc. got a loan 2 years ago to repair the ceiling, paint the building, fix the pool, elevators, etc. The majority of the owners are still paying that assessment which will be for 5 years. The property management company that we had 2 yrs ago stole the money and the new property management company just gave us a budget of 500K from an Engineering company which said the complex is 40 yrs old and has chloride based corrosion.
    This budget seems way too elevated, nobody is comfortable with it, except for the members of the board, who agrees to do the renovation.
    How can we check that in fact this is true, how do we now they are not trying to steal again?
    Is there any organization that can investigate?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Mar 26, 2009, 06:08 AM

    You need to check the bylaws. The condo owners may be able to demand an independent audit.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Condo Parking [ 2 Answers ]

I have lived in a condo for 14 year with 2 cars. When we were screened; we were told to park in the designed parking space that went with the condo (1) and the other car to be parked in guest parking. The condominium now says "no resident can park in guest parking. They took guest parking places...

Fellow condo owner not paying condo or any fees [ 4 Answers ]

Hi all.. Hey, have a situation here with 3 condominiums, 2 pay all bills on time the other is about 5 months behind on all bills. This is rough as he has finally fallen behind enough to have tapped out the reserves and next month we (the other 2 condo owners) will finally have to start dipping...

Nra Tax On Condo [ 1 Answers ]

Would Like T Know If Any Capital Gains Tax On Following: Nonresident Alien Sold Condo For $25k Profit And At The Same Time Purchased A New Condo Costing 50k More Than The One Sold. Please Advise.

View more questions Search