I am in a small 17 unit condo building that was converted from apts in 2004.
The first unit was sold in July 2004. I purchased my unit in late 2005.
The developer and one of the investors who owns a unit and his son who lives in that unit comprise 3 of the 4 or 5 members of the Condo Board. In addition, the Developer is the Condo President as well as the owner of the Management Company that manages and maintains the building.
So far he has been acting more like an Apartment Building owner and treating us like tenants, refusing to make repairs or dragging his feet on doing them at at all or in a timely manner. There is even the issue of his allegedly promising to install washer/dryers in the units which has not been done and does not look like it is being done.
Is his holding these different roles simultaneously a conflict, or allowable under MD law ?
It also seems that he may have used or possibly mingled funds that condo purchasers placed in a reserve fund to make repairs that he may have been responsible for as a developer of the property.
Should we pool our resources, which we do not really have and try and get outside legal counsel ?
Or is there some other recourse we may have ?
Thanks in advance for your help !!!
Bseward
The first unit was sold in July 2004. I purchased my unit in late 2005.
The developer and one of the investors who owns a unit and his son who lives in that unit comprise 3 of the 4 or 5 members of the Condo Board. In addition, the Developer is the Condo President as well as the owner of the Management Company that manages and maintains the building.
So far he has been acting more like an Apartment Building owner and treating us like tenants, refusing to make repairs or dragging his feet on doing them at at all or in a timely manner. There is even the issue of his allegedly promising to install washer/dryers in the units which has not been done and does not look like it is being done.
Is his holding these different roles simultaneously a conflict, or allowable under MD law ?
It also seems that he may have used or possibly mingled funds that condo purchasers placed in a reserve fund to make repairs that he may have been responsible for as a developer of the property.
Should we pool our resources, which we do not really have and try and get outside legal counsel ?
Or is there some other recourse we may have ?
Thanks in advance for your help !!!
Bseward