MattS2 (Washington)
Posts: 4
Posts: 4
Posted:
I live in Washington State, my condo community does not have a rental cap... For the first year, the HOA board was almost non-existent, would not return phone calls, or send out notices about meetings or board members quitting.
Then, they hired a management company to act as a buffer between the owners and board. There is no cap on the condos and everyone that was having difficulties with the HOA decided to jump ship and rent their units out.
What we are left with is very few owners on site, we are unable to get the necessary number of votes to change our board of directors. We are being told that it will take until about the end of the year to write up a bylaw for a rental cap... We suspect that the president doesn't live on site. Those of us interested in selling can not get FHA approved.
We are also being denied access to financial records for last year - a reported $80,000 is "unaccounted for". From what I've read in the RCWs' we as owners are supposed to have access to ALL records including bank statements etc.
Any feed back you folks could provide me with would be greatly appreciated.
/Matt/
Then, they hired a management company to act as a buffer between the owners and board. There is no cap on the condos and everyone that was having difficulties with the HOA decided to jump ship and rent their units out.
What we are left with is very few owners on site, we are unable to get the necessary number of votes to change our board of directors. We are being told that it will take until about the end of the year to write up a bylaw for a rental cap... We suspect that the president doesn't live on site. Those of us interested in selling can not get FHA approved.
We are also being denied access to financial records for last year - a reported $80,000 is "unaccounted for". From what I've read in the RCWs' we as owners are supposed to have access to ALL records including bank statements etc.
Any feed back you folks could provide me with would be greatly appreciated.
/Matt/