Living in a Condo?

Condominium Behaviour TIPS

If  you have ever attended a typical Homeowners Association meeting here in the Maya Riviera, you probably already know why “World Peace” is not so easy to achieve. Your Neighborhood is far away from an ideal world.

It would make sense that all condominium owners would have one thing in common: wanting to protect their investment and work together with other owners in their condominium to do so.  But in our practice, we have found that lack of communication, commitment and in most cases lack of information can lead even to a diminished value of a condominium property.

First things first: become a responsible condominium owner:

– Try to stay involved.  If you find impossible to participate, you can still support those who have volunteered their time and effort as HOA managers or members of a vigilance committee.

– Pay the maintenance fee. If you disagree with the proposed amount, you are entitled to vote against it.  But do pay the fee so that you can maintain the right to speak and vote in the HOA meeting.

–You are entitled to see complete financial statements from the Management,

– Use your right to attend the annual HOA meeting, as in such meeting the homeowners decide the maintenance fee and other important issues are discussed.

Remember that according to the Q. Roo condominium laws if one owner holds or represents more than 30% of the condominium, any resolution will require no less than 50% of the rest of the votes; also keep in mind that no one person can represent more than 30% of the condominium by proxy, and that neither the members of the vigilance committee nor the manager are authorized to represent a condominium owner.

– Engage the services of a professional Condominium Administrator.  Every Condominium is different and has specific needs – from a single, full time person to a large-scale management company.

If you find easy to follow the above tips, though you are still struggling with other homeowners or with the Condominium Administration, please do not hesitate in contact us and we can help you to find the best solution for you.

Respect, participate, enjoy and be proactive.  Words to live by if you are a condominium owner.