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[quote=Anonymous]I am president of my 30 unit Condo Association. Was a boat load of work for the first 5-7 years.

At one point was spending 25-30 hours week on it for a few months. But building had a massive flood that caused arrears and insurance claim issues and workers rebuilding issues and hard to abandon it midstream. My unit was undamaged and it was my only rental property so I just had more time than others and less stress as not my primary home and no damage.

But man we lost our CO, building had heat or hot water, 1/3 of building stopped paying monthly common charges and we got short changed $120,000 by insurance.

And our managing company quit day after disaster as did not want to bother with the extra work to fix building.

So stuff like that can happen. Today I dont have the time to do anything like that. Still in charge but it is on autopilot.

But I did get insurance to pay the money, get a good lawyer to collect all arrears, got a good lawer to grieve property taxes and rebuilt building to better than before all without an assessment or raising common charges or touching reserve fund. We actualy got work done in end for around $40K less than insurance payout. And put it in reserves.

Funny part is people forgot quickly building had a massive flood in 3-4 years and since we were renovated, healthy reserves and low common charges prices took off. Well till next flood  [/quote]

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