I just saw our association’s budget and was surprised to see the huge amount budgeted for Legal Expense. We could probably hire two full-time attorneys for what is budgeted. Is there a formula for figuring out what appropriate annual legal expenses should be based on an association’s size and overall budget? The amount my community plans to spend seems excessive.
I am the recently elected President of a new town home community, which still has 2 developers on the board? Our bylaws state that once the community is 75% settled, a special election meeting can be requested to be held within 60 days to elect residents to the spots now held by the developers. I have requested the meeting by email to the management company and the developers, but to date nothing yet..
… From some articles I’ve read, it seems that the homeowners should have an attorney for the transition. Is this absolutely necessary? It has also come to light that the developers have been paying some bills through the HOA account which I believe to be developer bills for selling homes and not HOA bills; however, […]Read Answers