Yonkers, NY, (New York State)
I moved into a condo in July of last year and the maintenance was $250. About 6 months later, they raised it to $388 and now they are talking about raising it another $50. I'm not sure what is going on that they have to raise it again. It's either that someone is not managing the money properly or there is corruption. My question is this? In either scenario,why do the owners have to be penalilzed, and further, what type of legislation is there to regulate this. As I see it as a first time condo owner, these boards can do pretty much what they want, without any regard to the owners. Of course, the owners can vote, but we are at the mercy of the majority in these matters. I am a single mother of two and will have to move if they raise it another $50, as this is just not in my budget, but I'm angry because I just do not feel it is fair. What can I do, and what is the law in this scenario?? I'm finding that there needs to be more legislation in regards to this. We are at the mercy of the management company and the board!!!!!
I moved into a condo in July of last year and the maintenance was $250. About 6 months later, they raised it to $388 and now they are talking about raising it another $50. I'm not sure what is going on that they have to raise it again. It's either that someone is not managing the money properly or there is corruption. My question is this? In either scenario,why do the owners have to be penalilzed, and further, what type of legislation is there to regulate this. As I see it as a first time condo owner, these boards can do pretty much what they want, without any regard to the owners. Of course, the owners can vote, but we are at the mercy of the majority in these matters. I am a single mother of two and will have to move if they raise it another $50, as this is just not in my budget, but I'm angry because I just do not feel it is fair. What can I do, and what is the law in this scenario?? I'm finding that there needs to be more legislation in regards to this. We are at the mercy of the management company and the board!!!!!