Lack of action

We are having our annual HOA meeting tomorrow night, where I am planning on running for the board - with no real problems of getting on. We are a small 36 unit condo assn.

Our problem? We started collecting an assessment about 2 yrs ago to replace siding with Hardee Board. Nothing has been done - we have been assessed with no action. In the meantime, our siding has gone from bad to worse - and, of course, the cost has gone up.

In addition to that, at some point we are going to have to have a new roof. If we wait too long, we are going to have to do both at the same time.

There are 5 board members - one is with me, the other three don't want to spend the money and are afraid they are not going to make the right choice. They would rather do nothing and keep discussing it over and over again.

Is there a way to force them to do the work? This is, of course, assuming that the three remain. One, the president is not up for election - and neither is the girl on my side. The other two were appointed by the President when two members sold.

It's beyond frustrating. I don't want to sell my condo, but if we don't replace it the property value will go down and we might have bigger problems like leaks, etc.

SO frustrated!

It wouldn't hurt to remind the previous board, and the new board, that as board members, they have a fiduciary responsibility to keep the association in good standing. This means that if they took money for one purpose, they better spend it on that purpose. otherwise, it's fraud, and potentially theft.

second, they have a responsibility to make sure the hoa maintains its' obligations, and any common areas maintain their value, within reason. If they fail to do this, they could be guilty of criminal or civil actions.

So basically, yes, there are penalties for doing nothing when you are obligated to do a job.

I guess I should have. I have been going to the board meetings for about the past month, but it wasn't until late Thursday night that they started talking about ditching the siding project all together.

If we can't afford the Hardee board siding, then we might have to go with something else - which they do not want to do. I'd rather have a less expensive siding than what we have, which is literally falling off. Our property manager wasn't kidding when he said running an HOA is like running a business.

Maybe I can run up to Home Depot or something and talk to someone about other options that might work. I doubt I would get a contractor on such short notice to give me that kind of info.

Harold - my point exactly. At the start, it was going to be $70K, now (almost 2 yrs later) it is going to be $100. I am not sure we have enough for the loan and to maintain a reserve and do it...or at least that is the fear. I think it will be fine - but the current board does not want an aggressive budget. They want to wait at least another year - which would probably prompt me to sell. If they keep putting it off, our property value is going to go down.