Steps that should be taken to protect a community association’s fundsFirst, if you are in the District or Virginia, before you hire a property management company, make sure it is licensed. In Maryland, where I understand that management firms need not be licensed, I strongly recommend you join with other community associations and petition your state legislators to enact a licensing law.
Don’t treat reserve money as slush fundQ: The tenant in the condominium unit next door plays loud bass music most nights, usually from 10 p.m. until 3 a.m., which prevents me from sleeping well. I have talked to the tenant and the condo board. The condo board has written to the tenant, but nothing has changed.
Handing over $15,000 for a new roofQ:Our condo board has alerted us to the fact that each unit has to pay more than $15,000 to have our roofs replaced. The board has told us that we have three months to come up with the money.