RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
Our HOA allows for proxies to be assigned. The way it works is along with notice of annual meeting a proxie form is added to the package. You can assign your vote (proxie) to a specific individual or you can assign it to the Board. We are a condo in a resort location, our Quorum requirement is 51%, and presently the rental/nonrental ratio is about 75% rental. Of 65 units total we have only about 8 full timers. Our Board does not view this to be a problem although I, for one, have cautioned them about the effects this has on our mortgage market. They ignore any and all information I have gathered from the internet explaining the realities of this problem including Fiduciary Responsibility. So now, any vote taken will be lopsided with rental/investor owners. And we keep going down the road of self distruction, in my opinion. We do have a small group that has requested a meeting with the Board and our(Regime) lawyer. Up to this point they seemed to have responded with Turtle speed. About two months and we still haven't received a written response, although they have informed us via telephone a reply is forthcoming. All Board members are absentee owners so you can imagine how much rule enforcement is done.
I have been reading about a proposal that would add a Fulltime Resident to the Board, but that is not looked upon with favor.
First: Would a reduction in our requirements for a Quorum help?
Second: As nearly all our owners are absentee their proxies insure the interests of renting, and in the same breath defeat any interests of non-renters.
Third: How do other condos handle this situation or does it just fade into a rental apartment complex.
I have lived here by the Ocean for 17 great years and believe me when I say
full time residents keep this place together.
Thank you, advice appreciated.
I have been reading about a proposal that would add a Fulltime Resident to the Board, but that is not looked upon with favor.
First: Would a reduction in our requirements for a Quorum help?
Second: As nearly all our owners are absentee their proxies insure the interests of renting, and in the same breath defeat any interests of non-renters.
Third: How do other condos handle this situation or does it just fade into a rental apartment complex.
I have lived here by the Ocean for 17 great years and believe me when I say
full time residents keep this place together.
Thank you, advice appreciated.