A question or two for those who live in condominiums.

[KennB]

I'm President of our condo's Board of Trustees. Our complex has 28 buildings of four units each, mostly townhouse and cape style homes, for a total of 112 units. There's lots of green space as the units occupy about 30 acres.

I'm interested in finding out from other condo owners:

1. How many units in your condo?
2. What style units do you have (townhouse, garden-style, etc.)?
3. How many members are on your Board?

I'd like to limit this to current and past condo owners only. If you're in an HOA made up of single-family homes, please don't respond.
At a recent Board meeting, one of the unit owners requested we increase the number of people on the Board so I'd like to find out what others have for numbers of units and Board members.

Thanks for your help.

 

[PayLoad]

I'll have the Lasagna.

 

[Fattbank64]

Former condo owner.

1. IIRC I sold when there were less than 100 units in the community.
2. Townhouse
3. Three (president, VP, and treasurer)

 

[afadeev]

FYI - https://www.concordvillageny.com/about-cv

6 buildings, 17 floors each, 10 units / floor = ~1020 units in total.

7‐person elected Board of Directors.
Monthly meetings open to the public.
Budget for staff of 60+ employees, on-property stores and a restaurant.

 

[heada]

Not a current or past condo owner but I looked at 3 different ones before I purchased my house, all were townhouse style. I turned each one down for a different reason. This was ~21 years ago so maybe much has changed.

First one was ~100 units but board meeting was by invitation only when I asked to sit in on one. Board meetings and published minutes should be available to all owners.
Second was 150 units and still being built. Builders required 3 board seats (non-electable) and owners had 2 electable seats. I turned it down because all board seats should be electable and should be owners. Builders claimed that they would release their 3 seats 5 years after the last unit was sold.
Third and last was 400 units. I asked to review the last 3 years of financials and they refused. They said financials were only available to the board. I could understand if it was restricted to board and current owners but they restricted to board only. Financials should be available to any owner by request. (redacting for owner privacy is OK)

My mom is 74 and we're looking at options for her since my dad passed this spring. A condo is preferred due to maintenance reasons but I'm not holding out much hope that we'll find one in her area that meets all her needs in the price range she can afford.

 

[KennB]

For a group that chimes in on most any subject, I'm surprised at the low ratio of responses to view in this thread.
If you can help out with any info, please do.

 

[augendoc]

I am on the BOD of a small HOA (48 homes). Community association regulations differ from State to State and some states regulate heavily (California and NY) and others hardly at all (Florida). Check out www.davisstirling.com. It’s a website that covers community association law. Although mostly California regulations, you may be able to find references to the info you need.

i strongly recommend you look at the level of reserves percent financed. If significantly less than 90% financed, the degree of underfunding represents a hidden debt that the members are obligated for and that you as a member become responsible for the moment your property closes.The only way out of that hidden debt is for the buyer go demand that the seller drop their price by the amount of the member’s share of the underfunding.

 

[Lord Rory Gin]

I'm President of our condo's Board of Trustees. Our complex has 28 buildings of four units each, mostly townhouse and cape style homes, for a total of 112 units. There's lots of green space as the units occupy about 30 acres.

I'm interested in finding out from other condo owners:

1. How many units in your condo?
2. What style units do you have (townhouse, garden-style, etc.)?
3. How many members are on your Board?

I'd like to limit this to current and past condo owners only. If you're in an HOA made up of single-family homes, please don't respond.
At a recent Board meeting, one of the unit owners requested we increase the number of people on the Board so I'd like to find out what others have for numbers of units and Board members.

Thanks for your help.

I was President of our 40 unit townhouse condo (5 buildings of 8 units) with tiny yard at back. I resigned after 3 years due to the work load.
We have 5 board members (currently less). When I volunteered, everyone else spoke up too quickly for a position so I was left with filling the role of President. Initially, the 5 of us did all the management, communications, and legal stuff then we hired a management company to do the real work of arranging for maintenance, accounting, pay bills, etc. and the condo fees went up accordingly. Now the condo board has less day-to-day stuff to work on.
We just completed reworking the drainage around the buildings and creating small private patios. A decade ago we had to replace the roofs which drained the reserve fund. (The developer had hired a cheap roofing company and didn't put down any eave & valley protection or underlay and consequently 1/2 the units had leaking issues.)