“Dear PoPville,
My condo is made up of about 40% owners and 60% owned by a privately owned real estate investment company that rents out their units. Unfortunately that means when it comes to our condo association, individual owners have no voting power.
In 2019, the condo board (run by the investment company) increased our HOAs by 10% and charged a large special assessment that was 50% of annual dues.
We recently found out none of the special assessment improvements were done. Instead the investment company pocketed the money and sold to a new investment company.
Now the new investment property wants to increase our HOAs by 10% and charge another expensive special assessment fee due to lack of maintenance over the years. As individual owners, is there any recourse other than legal action that will likely be time consuming and expensive?”
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