Small condo associations do not face major problems, right?
Some of the problems that the small condo owners face are unimaginable by the owners of large condos. In larger buildings, everything, starting from the maintenance to security, is managed by the building associations. The only responsibility of the owners is to pay the maintenance charges properly. In the case of small condos, all the owners are compelled to take responsibilities of some of the tasks. According to the members of xo condos, if one of the owners does not want to participate in the works, the small condos can face larger problems.
So how is the problem to be solved? The members have jotted down some great tips of solving the association related problems below. Check them out to tackle the problems that can stem in the future.
Modify the Documents
You should understand the laws that are viable for the larger condo associations are not at all suitable for small condo associations. So, to avoid bigger problems later, change the governing documents of the condo association. First, find out what are the unique necessities of your community. Then find out the ways to avoid them. If necessary, get in touch with the professionals of xo condos.
If the condos have five or fewer units, then there should not be an election. Instead, try to become trustees of the building. In this way, all of you will be bound to take care of the building that you are living in. Contact the experienced members of xo condos to know more about the legal details.
Don’t go for 100% Approval
100% approval is needed in case of two-unit condos. But if the number of units is more than that, don’t strive to get a 100% approval. Instead, go for what most people are saying.
In case of Delinquent Owner
If you need 100% approval and the delinquent owner is not giving approval (quite obviously), then choose lien enforcement actions. Mention that the delinquent owner’s approval is not required to enforce action against him or her.
Binding Requirement for Arbitration
Establish a binding requirement for arbitration. But make sure that this is used only as the last resort. Don’t use this to break a deadlock of decisions. It is better to make the number of trustees odd. In this way, there is no chance that any vote will be deadlocked. Talk to the members of xo condos to understand the delicacy of such rules.
Treat the Association as a Business
Accept the truth. The association is not a profit making organization and neither is it a hobby. Thus buying a small condo is just like starting a business with a couple of people. Thus, it is better to establish such procedure that is easy and makes sense. In this way, if any of the owners sell their condos in future, the new owner can quickly understand the rules.
It is not easy to amend the problems of a small condominium association. The best way, thus, is to get professional help from experts such as xo condos. They will help you to pick a person who can do all the legwork for you. Appointing a person might be expensive, but this is necessary to keep the sanity of the association.