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Re: residents rights vs. a association president - Landlord Forum thread 353284

Re: residents rights vs. a association president by Domenick (NJ) on July 17, 2017 @05:27

                              
Do you have a copy of the By-Laws? You should have received a copy when you purchased the condo. I believe most have provisions specifically prohibiting any board members from being compensated by the association for their service as a board member. It should be on a voluntary basis. It might also say something to the effect that association funds are only to pay for common area repairs and upgrades.

You could take the By-Laws and any evidence you have to a local lawyer and get their opinion on the matter. Most lawyers will review the documents and give you an opinion for free.

This sounds like a messy situation and you might have a hard time proving anything unless the check register left an obvious trail of violations.

My advice would be to organize a group of owners and vote these people off the board ASAP. Get on the board yourself. It's the only way to be certain you can protect your investment.

Domenick | http://accidentalrental.com

PS - this is why I stopped investing in condos as rentals!

http://accidentalrental.com/buying-condo-rent-out/
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