QUESTION
Is our HOA operating compiliance with state law?
Asked on Jan 24th, 2015 on Real Estate - Colorado
More details to this question:
1. Our HOA fee has virtually doubled since 2010, ($90 - $165). Every year they keep adding brand new categories to justify the increases. Ours is a relatively small condo complex of slightly over 100 units. The only amenity is a small pool. 2. On owner has over double the number of units as all of the other owners combined. He also sits on the board. The deck is completely stacked, and the board does not allow any comments or questions at the annual meeting.
1 ANSWER
3 Awards
Can your HOA increase your HOA fees from $90 - $165? Yes.
But, the increases must be performed in an administratively correct manner, i.e. within the powers allowed to the Board of Directors. If one person is controlling the board and not allowing the members to comment during the annual meeting for his personal benefit, there is likely an issue there. The only way to determine the strength of your case is to audit the books or the HOA.
Let me know if I can help you further.
Don Eby
Answered on Jan 24th, 2015 at 12:28 PM
Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.