Quote:
Originally Posted by Winsor_Pilates
Can your condo board actually issue an assessment without a majority vote?
In BC we can't, and any assessment vote has to be taken at the AGM or and SGM. I'd be surprised if Alberta allows a volunteer council to make assessments of $2 Million dollars, but I'm not overly familiar with the Alberta Condo Act, as I am with BC's.
|
Yes they can in AB - and while the possibility of abuse does exist (as it does in any democracy) frankly you kind of want the Board to be unencumbered in addressing issues.
Lets say there's a certain 50 unit apartment condo out there. Due to the builder specifying one thing and delivering another with respect to the exterior envelope, there is massive water penetration along the entire West facing wall. Lots of mold in units approaching toxic levels.
Do you want them taking decisive action to correct the problem, or do you want it to turn it over the Calgary Sun comments crowd in the building? (taaaxes!) No one likes to have to pay assessments, especially if their unit isn't affected. So they tie up the process, dragging it out 2 more years before repairs even start, which by then - have doubled in cost (is this what happened in the OP's situation?)
Is this perfect? No. Many Boards are populated by morons who have no common sense - let alone business sense or experience to be effective Board members ("What do these brackets mean around numbers on the financial statements" was a gem I've encountered) Bad decisions can be made by them. Generally a good property manager can make up for a bad Board, but they aren't perfect either. In a special assessment situation - you generally want either of them to ensure that the best, most researched alternative is done. But again, the system isn't perfect. (Its government on a small scale).
Again - decisions are made by those that come out. Join the board. Pay attention to it as if it were your own house or stock you just bought.