Articles By George Gombossy
50 PerCent Rentals In Your Ct Condo Complex Could Prevent You Selling Your Unit
As the result of the recession and the millions of foreclosures, renting is safer and more affordable than buying for many. But be careful, if you complex is starting to approach the 50 percent mark, your association might want to consider putting a freeze on allowing more unit owners to rent their condos. As MarketWatch’s
Malloy Signs Condo Bill To Certify Property Managers, Preventing Associations From Blocking Religious Symbols On Doors
Connecticut Governor Dannel P. Malloy has signed a bill that requires condo property managers to be certified, and blocks associations from prohibiting owners from placing religious symbols on their doors. The bill, 5536 requires condo associations to allow small religious signs on individual owners’ doors. That issue is important because one condo association fined a
Farmington Woods Condo Owners Defeat Proposal To Sink Millions Of Dollars Into Golf Course Improvements
By overwhelming votes, owners of condos at Farmington Woods in Avon defeated two proposals that would have raised their condo fees by about 18 percent to pay for improvement to a money-losing golf course used by just a minority of the residents. Lee Lagasse, a unit owner one of the leaders of the anti tax
Hartford Woodland House: Condo Owner Squares Off With Noted Board Member
The high-rise Hartford Woodland House condo complex is like many condo and age 55+ associations where a few active owners battle with board of directors. Part of the problem is that Connecticut has little legal protection for condo owners, most owners may little attention to what goes on in their complexes, and frequently boards of
South Florida Condo Market Returning From Housing Bust
The condo market is South Florida is making a comeback. According to the Sun Sentinel bulk buyers have resold more than 60 percent of the coastal condominiums snapped up during the housing bust. “The investment groups have unloaded roughly 3,200 of the 5,100 units that were in or near foreclosure, said CondoVultures.com, a Bal Harbour-based
Timeshare Owners Unable To Afford Rising Fees Are Trying To Dump Their Units
As a former owner of two timeshares from my younger, ignorant years, I am stunned by the latest statistics on the industry and the poor owners who are trying to sell theirs for $1. My guess is that some would pay to get the property off their hands. Here are some of the latest statistics
Margolis Condo Management Fined For Padding Condo Association Bills
On November 9, 2011, following a two year investigation by the State of CT Department of Consumer Protection (Docket No. 11-818, Case No. 2009-5477), Commissioner William M. Rubenstein, imposed a penalty of $8,000 on Stephen Margolis, A/K/A Margolis Management & Realty of Hamden, CT, for failing to properly notify and disclose to The Meadow’s Association
Miami Condo Goes For A Record $25 Million As Foreigners Snap Up Expensive Condos
There are tens of thousands of inexpensive condos in Florida that have no buyers in sight, and may have for sale signs on them for many more years. But for high end condos in Miami, the market has never been better. Wealthy Asians, South Americans, and Europeans seeking the political stability and relative financial security
Connecticut Condo Owners Need Legal Protection From Some Abusive Boards
A recent survey by the Connecticut Condo Owners Coalition (CCOC) has provided documentation of a long ignored, pervasive and continuing problem in the relationship that begins when an individual buys a condo or time share, and is then subject to governance by the condo’s board and management. Few prospective owners walk into this relationship fully
Seniors At Risk In Some Condo Associations
The grassroots Connecticut Condo Owners Coalition (CCOC), founded in 2010, counts among its members many residents in 55-and-over condos and elderly well over 80 years old. For these members the unresolved problems they have with their condos amount to “elder abuse,” in the words of CCOC member and Stratford resident, Angela Deleon. She points out