First, Kyle, Amy’s husband, will now be a blog contributor.\u00c2\u00a0 Below is his first blog.\u00c2\u00a0 We’ll eventually figure out how to distinguish his posts from Amy’s…<\/p>\n
I recently attended the annual homeowner’s meeting for the complex in which Amy and I own a unit.\u00c2\u00a0 It was my first event in the community, and after perusing last year’s minutes in the pre-distributed packet I was optimistic that it would be an exciting evening out.<\/p>\n
(Amy: You’re a LOSER<\/strong>, Kyle. Condo meetings are not an exciting evening out.)<\/p>\n Overall, I was very pleased with what I heard.\u00c2\u00a0 But the meeting was not all holding hands and singing Kum Ba Ya<\/a><\/strong>; some folks got quite excited<\/a><\/strong>.\u00c2\u00a0 So let’s review the good, the bad, and the ugly.\u00c2\u00a0 Although I can’t be sure, I would bet that some of the following themes play out in many annual homeowner meetings.<\/p>\n The Good:<\/strong><\/u><\/p>\n 1.<\/strong> The board members seemed to care about the community and are genuinely trying to do the right thing for their fellow owners.\u00c2\u00a0 Many have lived in the development for decades, and all have both financial and emotional investments in the community.<\/p>\n 2.<\/strong> The Association’s finances are in good shape.<\/a><\/strong>\u00c2\u00a0 There is\u00c2\u00a0a meaningful amount of cash and minimal liabilities on the association’s balance sheet, and an operating profit on the income statement.\u00c2\u00a0 Beyond that, the cash balances are invested in a responsible manner.<\/p>\n 3.<\/strong> The Board budgets for planned repairs in an effort to avoid, or at least minimize, special assessments.<\/p>\n