Condo owners nip mismanagement in the bud

Association reserves restored after board of directors ouster

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

DEAR BOB: You recently advised a condo owner who could not get any satisfaction from his homeowner's association board of directors to sell and move on. I highly disagree. We had a similar situation where we live. Our condo board of directors was as corrupt as you can imagine. Finally, several of my neighbors and I decided (instead of selling our condos) to do something about it. We ran as a "team" for the condo board of directors. The incumbents were shocked. We contacted every condo owner, even the absentee owners. The result was we threw out the incumbent directors and won by 69 percent to 31 percent for the opposition. Then we shockingly discovered the reserves were less than $500 per unit. We immediately voted, after two meetings and lots of publicity, to increase the monthly fees to raise our reserves. After two years, our reserves are where they should be, now well over $1,000 per unit; we threw out the old mis-management company and instituted tough anti-renter rules, which red...