BOD owns majority of units

Started by LindaN4 • 6 replies • 1309 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

LindaN4 (Nevada)
Posts: 2

Posted:

I am the owner of 1 unit in a 59 unit complex in Reno, NV. When the origional developer went bankrupt in 2006 one person bought up 35 units and has since purchased 3 or 4 more in foreclosure sales. He rents all his units out 'as is' (dirty carpets, marred walls) to anyone he can get in there. Most of the original homeowners have moved out (I believe there are about 6 left) because of the type of people (drug dealers, hookers, etc) and the trouble they cause (vandalism, bed bugs, fights). This person basically elected himself along with his 2 other associates to the BOD and as there is 1 vote per unit (he has about 2/3's) we can't get him off the board. ANY suggestions would be appreciated. Thanks.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Linda,

My choice would be to offer your unit to him for purchase. He has the majority and the odds will probably only get worse on owner occupied. Sorry to give you that news.

PetunkaM (Florida)
Posts: 1,009

Posted:

Linda,

no way you can change what sounds like a ‘slum property’ now under the circumstance you have described.

LindaN4 (Nevada)
Posts: 2

Posted:

That's what he has turned it into. The building is very nice, close to University, nice pool, gym, and units. Unit was purchased in '05 for $156k and he purchased 2 units this year or 12k and 14k. Because of this, some homeowners have walked away. VERY sad! I am trying to research 'recalling entire board'. As a small association (fewer than 50 members) wondering if it can be done be the affirmative vote of a majority of all members entitled to vote? Sounds like it's just one vote per person and not one vote per unit. Have to do a little more research. He is trying to get rid of all the Homeowners and buy up their places dirt cheap so that he'll eventually own the whole building.

DonnaS (Tennessee)
Posts: 5,671

Posted:

Linda,

You will have to read your Articles of Inc and Bylaws on voting rights. Normally there is one vote for every unit. Gosh, If I owned 10 units and I PAY dues for 10 units, I would hope that I get 10 votes. There are all kinds of odd incorporation and bylaws and yours might be one of them but odds are that it is 1 vote for each unit in the association.

PetunkaM (Florida)
Posts: 1,009

Posted:

Linda,

you may not be able to recall the entire board,because the individual owners are in minority. It is always is one vote per unit (99%). The best you can do is to get the health department involved if things get really ‘filthy’ (sorry for using that word).
Florida real estate is in the bad shape too but going from $150K to $15K is quite drastic. I have not seen that yet. Gee, that is really horrible. I feel for you in a big way.

JohnB26 (South Carolina)
Posts: 1,569

Posted:

...you are a bolt in the process of being tightened!

CAVEAT EMPTOR

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here