courts

I am trying to educate myself concerning condo aasociations. We will become our own association by September. I have read that if no one wants to be on the bod the courts can step in. We do have a peson willing to collect the dues and pay 3 bills a month. My question is, why are the courts involved and how do they find out? If this is a silly question then maybe somebody and delete it.

Thanks

Michael,

I suspect that you are following the proper process, becoming incorporated, filing for a tax id number, open a bank account, etc. etc..

Remember that typically an Association is a corporation and must follow corporate laws (if incorporated) as well as condo laws of the State. Make sure the Board takes the time to do a proper reserve study to determine what the annual assessments need to be. This way you can start the Association down the right road.

You didn't mention if you were running for the Board. By taking the time to educate yourself on the process you are demonstrating that you would be a great one to serve on the board.

Tim

flee for your fiscal health

Michael:

Deciding whether to commit yourself to a position on the Board is tough.

You may wish to do what's right for your property and the other owners but putting yourself in the line of fire may be a decision you later regret.

Sadly, many property owners today have little desire to do any more than complain, second guess and put forth little in the way of actual effort. They will look to you to do more, learn more, write more, provide more, cover more all for nothing while they go home each night without a care in the world or any thought as to what needs to be done for the property.

And if you think that others will feel the same sense of service in managing your property there is a good chance you will be greatly dissappointed. What's sad is the more you are willing to do the less others will help. What you see as needing to be done they will be blind to.

The other option is to let some power hungry fool who have never actually done anything in their lives, can't handle their own finances but now comes to belief THEY know how it all should be done. Then you can watch your property go broke, your property values go down the drain, and your investment sink while the do nothings brag about what they have done. Not a pretty picture.

Most properties have a tough time filling their Boards. And when filled some members do littel more than occupy a seat once a month. Do you think they know who they are these once a month Board members? Hardly, they think they are actually doing the job.

So I would suggest you consider your decision carefully. Look to see who is willing to work with you. What type of personalities you might be dealing with and give this some real thought before you jump in or out.

Either way good luck and I hope it turns out well for you.