Trustees that are renting their units out.

here is the trust docs https://www.docdroid.net/YCHyHyD/declaration-of-trust11-2.pdf

We just had an election and are waiting the results. In the middle of it the president resigned. ( he knew his time as president was coming to an end.

We have 2 people more than we have spots on the board who applied.

Can you help clarify what this means? What i get out of it is every position is up for election at the annual meeting every year?

https://ibb.co/zPz7XQL

https://ibb.co/684h3M1

Jack

A few things, typically:

1. BOD Members (what you call Trustees) are generally elected by owners for a specific term.

2. BOD Members, and BOD Members only, elect their Officers from among the BOD Members. Thus all Officers are BOD Members but not all BOD Members are Officers.

3. A majority of the BOD can call for new officer elections at any time.

3. Those elected by owners can only be removed from the BOD via a recall vote at a Special Meeting where the owners vote. Typically this requiring 51% of all owners agreeing to remove the person(s).

4. When vacancies exist on the BOD (death, resignation, etc.), a majority of the BOD may appoint someone to fill the vacancy. Your docs will say if the appointment is to fill out the balance of the term (is in our case) or only fill the spot until the next election.

I say when an Officer resigns from the BOD, the BOD should appoint someone to fill the vacancy and as the person was an Officer call for an election of Officers. The appointee does not slide in as an Officer.

Would you want someone who rents their unit out and is never there be on the board?

Also what they are doing is illegal as the condo is an affordable unit. Meaning they are not allowed to rent. I also think it's moraly wrong to use a rent an affordable unit to make money when someone else could live there. There are only so many of these affordable unit.

Sounds like a personal issue. Nothing wrog with rentinb out a unit and being voted in or appointed to a board. A member is a member is a member.

Do you have a citation for a statute or municipal ordinance to back up what you say above? Because if I were in your shoes, and there were a way to enforce what you claim, I'd report the owner to the appropriate authority. Where I am (far from Massachusetts), the agreement between the city and developers regarding affordable housing is serious legal business (yada).

Yes the Boston Planning Department of authority has it in the deed restrictions. I spoke with them and already made them remove the AirBnb ads. Also Boston also made several new laws for Air Bnb and short term rentals. "The new law, which went into effect January 1, bans short-term rentals by owners who don't live in the properties they rent out, as well as by renters. It also requires short-term rental hosts to register with the city every year."
If they did register they would be found out and be forced to sell.

I have seen some of the ads and the prices are extremely high due to the face the property is in a prime location and on the water.

Thank you for following up with my question.

Do you know how to find out what percentage is allowed to rent in a condo in Massachusetts? The banks ask on the 6d certificates correct?

Sue for what exactly? What effects is loan options and rates on re-financing. A HOA that is in violation of such violations of exceeding # of rentals is certain loan companies will no longer allow you to qualify. These are like any government backed loans like FHA, Fanny or Freddie Mac etc... If want to refinance, then the rates can increase.

This is found out by a HUD/PUD form that is filled out by the HOA/Condo on certain loan packages. It's a 25 questionaire measuring the "health" of the HOA. Believe the current rental rate has to be under 50%. Anything above that it triggers loan denials/rate increases.