HowardD1 (Colorado)
Posts: 1
Posts: 1
Posted:
I am the President of an HOA in Colorado. We have a somewhat unique situation. 33.3% of the building is commercial and still owned by the original developer. The remaining 66.6% is owned by us residents. We residents are what is called Resident Occupied units. What this means is there is an equity cap on our units. Our cap is 5% per year. When I took over I noticed we were paying 66% of all maintanence bills including an enormous snow shovelling bill for keeping the areas around the commercial spaces so clean you could eat off of them. Since our Declarations state that the Board has the responsiblity for the maintanence of the GCE we took over and fired the company doing the job. Since then the Developer has hired this company independently and has held back money from his quarterly assessments to pay the bills. These guys are out there when there is 1/4" of snow which would melt in 2 hours. I would appreciate any input anyone has in this case. We are not wealthy and cannot as this time hire a lawyer.
Thank you,
Howard D
[email protected]
Thank you,
Howard D
[email protected]