Bored of Directors
- Thread starter mish
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If you have answers, please help by responding to the unanswered posts.
If you have answers, please help by responding to the unanswered posts.
Andy M.
Certified Pretend Chef
mish:
I'm on the Board of Trustees for my condo association. Board members are elected by condo owners, usually for a specified term such as 3 or 5 years. Elections will usually be held at the annual meeting.
If you have a problem with a board or certain members of the board, you can, with the appropriate number of votes, remove them and replace them with others.
The key is to read your condo documents. That's what will tell you what YOUR condo's specific rules and regs are. You will be able to find out what the removal process is and how many votes you need to do it.
If you have a management company, they will provide you with condo docs. If not, they are a matter of public record and can be obtained from the registry of deeds or equivalent agency where you live. I was able to download my docs from the registry of deeds website for free.
Le me know if there is anything else I can answer for you.
I'm on the Board of Trustees for my condo association. Board members are elected by condo owners, usually for a specified term such as 3 or 5 years. Elections will usually be held at the annual meeting.
If you have a problem with a board or certain members of the board, you can, with the appropriate number of votes, remove them and replace them with others.
The key is to read your condo documents. That's what will tell you what YOUR condo's specific rules and regs are. You will be able to find out what the removal process is and how many votes you need to do it.
If you have a management company, they will provide you with condo docs. If not, they are a matter of public record and can be obtained from the registry of deeds or equivalent agency where you live. I was able to download my docs from the registry of deeds website for free.
Le me know if there is anything else I can answer for you.
ANDY. THANK YOU SO MUCH FOR REPLYING.
The CCR's are not enforced. There are very serious problems here. I don't know who to go to. My home is the most important thing to me. There must be someone - some agency(?) to go to. I'm really lost here & don't know what to do. Hardly a day goes by, when I don't think about walking out my front door with just the clothes on my back & never looking back.
The CCR's are not enforced. There are very serious problems here. I don't know who to go to. My home is the most important thing to me. There must be someone - some agency(?) to go to. I'm really lost here & don't know what to do. Hardly a day goes by, when I don't think about walking out my front door with just the clothes on my back & never looking back.
Andy M.
Certified Pretend Chef
Mish:
I'm not sure about an outside agency that oversees condo boards. An exception would be if there is fraud going on, such as their using condo funds for non-condo purposes.
I've put a call into my property manager and will check with him-he's the expert.
In the meanwhile, talk to your neighbors and see if you/they can organize to fix the problem. In many condos, the residents really don't care about what's going on. They don't show up for meetings and just go about their business. People like you, who care about their community, are often in the minority.
But don't despair, the problem is fixable. The condo association down the road from us recently dumped their entire board and replaced them with a better group that cares about their community. You can do it too, but it will take some effort.
A poorly run condo can lower property values and ruin morale in the neighborhood. Find a small group of people who care and go to work on the problem. If you have liked living there, it's worth the effort.
Feel free to ask me anything or just chat.
I'm not sure about an outside agency that oversees condo boards. An exception would be if there is fraud going on, such as their using condo funds for non-condo purposes.
I've put a call into my property manager and will check with him-he's the expert.
In the meanwhile, talk to your neighbors and see if you/they can organize to fix the problem. In many condos, the residents really don't care about what's going on. They don't show up for meetings and just go about their business. People like you, who care about their community, are often in the minority.
But don't despair, the problem is fixable. The condo association down the road from us recently dumped their entire board and replaced them with a better group that cares about their community. You can do it too, but it will take some effort.
A poorly run condo can lower property values and ruin morale in the neighborhood. Find a small group of people who care and go to work on the problem. If you have liked living there, it's worth the effort.
Feel free to ask me anything or just chat.
Thank you Andy. Yes, missappropriation of funds & perhaps fraud may be involved here & problems that have gone unresolved for years.
Shortly after I took possession of my home, I was hit with an SBA? outstanding (earthquake loan) on this property. I did not reside here at that time. There was no disclosure. I came to find that the members on the Board, who have lived here for 20 years did not pay off the loan, whereas I did.
If my mortage was not almost paid off, I'd let the bank repossess the property. Rent here goes for about $1500 a month.
My guess is, the repeated assessments here may have caused some people into foreclosure. When that happens, my understanding from a realtor, is that the homeowner trashes the unit, when they cannot pay their mortgage. Then the property value is even lower. & that's only the tipe of the iceberg.
There is too much here to go into. I appreciate any & all help, Andy. THANK YOU. THANK YOU.
Shortly after I took possession of my home, I was hit with an SBA? outstanding (earthquake loan) on this property. I did not reside here at that time. There was no disclosure. I came to find that the members on the Board, who have lived here for 20 years did not pay off the loan, whereas I did.
If my mortage was not almost paid off, I'd let the bank repossess the property. Rent here goes for about $1500 a month.
My guess is, the repeated assessments here may have caused some people into foreclosure. When that happens, my understanding from a realtor, is that the homeowner trashes the unit, when they cannot pay their mortgage. Then the property value is even lower. & that's only the tipe of the iceberg.
There is too much here to go into. I appreciate any & all help, Andy. THANK YOU. THANK YOU.
Andy M.
Certified Pretend Chef
mish:
I talked to my property manager about your problem. He made the following suggestions:
1. Check out the California website for any government agencies that deal with condo complaints. I took a quick look and found the link below for the consumer information center. They will help you find the right help resources.
http://www.dca.ca.gov/cic/index.html
2. If that doesn't work, send a letter to the insurance agency that writes the Directors and Officers liability insurance. If you don't know who that is, the property manager will tell you.
Send them a letter complaining about the Board's performance claiming they are not fulfilling their fiduciary responsibilities. Cite some specific examples, explaining how they negatively impact the neighborhood and property values.
The insurance agency will have to forward that letter to the insurance company. They will investigate and apply some pressure to the board and management company.
I hope that helps. Let me know if you need any more help.
Andy M.
I talked to my property manager about your problem. He made the following suggestions:
1. Check out the California website for any government agencies that deal with condo complaints. I took a quick look and found the link below for the consumer information center. They will help you find the right help resources.
http://www.dca.ca.gov/cic/index.html
2. If that doesn't work, send a letter to the insurance agency that writes the Directors and Officers liability insurance. If you don't know who that is, the property manager will tell you.
Send them a letter complaining about the Board's performance claiming they are not fulfilling their fiduciary responsibilities. Cite some specific examples, explaining how they negatively impact the neighborhood and property values.
The insurance agency will have to forward that letter to the insurance company. They will investigate and apply some pressure to the board and management company.
I hope that helps. Let me know if you need any more help.
Andy M.
