Condo Media - May 2023 - 14

R
Asked & Answered
3 of 3
Repairs &
Reserves
Liabilities and Risks of Ignoring Issues:
A Legal Perspective
A recent reserve study identifi ed a number of repairs/
replacements that should be addressed in the community.
However, while the reserve is being funded on a monthly
basis, there isn't enough in the current reserve fund for
the repairs/replacements. With infl ation and knowing
that owners won't be happy, the board decided not to
increase condo fees or approve a special assessment
and instead will wait to make the repairs/replacements
when the money is available in the reserve fund.
and instead will wait to make the repairs/replacements
replacements should be addressed, how might the board's
decision impact our liability should one of these items
fail and/or cause damage to the community or someone is
injured by our failure to address the repair/replacement?
Since the reserve study has indicated that these repairs/
fail and/or cause damage to the community or someone is
injured by our failure to address the repair/replacement?
THIS QUESTION RAISES A NUMBER
OF ISSUES FROM DIFFERENT
INDUSTRY PERSPECTIVES.
THIS MONTH, WE'VE ASKED
ANATTORNEY TO ANSWER
THE QUESTION.
There's an old adage about
being penny wise and pound
foolish that one could ascribe
to a situation such as this.
As an attorney representing
THIS ANSWER WAS
PROVIDED BY
Scott J.
Eriksen, Esq.
A PARTNER WITH
THE LAW FIRM
PERKINS & ANCTIL, P.C.
14 CONDOMEDIA May 2023
numerous associations in New Hampshire
and Massachusetts, I am keenly aware of
the practical pressures that board members
and property managers face when it comes
to keeping community costs in line. Over
the course of my practice, I have attended
many association meetings where I have
had board members proudly inform me that
their association has not had a fee increase
in years. It is diffi cult to tell these individuals
- who have volunteered their time on
behalf of their communities and acted in
good faith to be thoughtful fi duciaries for
the properties they represent - that this is
not necessarily a good thing.
Condominium dues must match the
real needs of the property; fees are typically
the sole source of revenue that any association
has to meet its fi nancial obligations.
Maintaining low fees without an adequate
operating or reserve fund, particularly in
the face of necessary repairs, is not good
stewardship, even if the intentions behind
that decision are well-meaning. Furthermore,
if a board fails to address known
defects or issues with the common areas
of a community, the board could certainly
be putting the community at risk of legal
claims or liability.
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Condo Media - May 2023

Table of Contents for the Digital Edition of Condo Media - May 2023

Contents
Condo Media - May 2023 - Cover1
Condo Media - May 2023 - Cover2
Condo Media - May 2023 - Contents
Condo Media - May 2023 - 2
Condo Media - May 2023 - 3
Condo Media - May 2023 - 4
Condo Media - May 2023 - 5
Condo Media - May 2023 - 6
Condo Media - May 2023 - 7
Condo Media - May 2023 - 8
Condo Media - May 2023 - 9
Condo Media - May 2023 - 10
Condo Media - May 2023 - 11
Condo Media - May 2023 - 12
Condo Media - May 2023 - T1
Condo Media - May 2023 - T2
Condo Media - May 2023 - 13
Condo Media - May 2023 - 14
Condo Media - May 2023 - 15
Condo Media - May 2023 - 16
Condo Media - May 2023 - 17
Condo Media - May 2023 - 18
Condo Media - May 2023 - 19
Condo Media - May 2023 - 20
Condo Media - May 2023 - 21
Condo Media - May 2023 - 22
Condo Media - May 2023 - 23
Condo Media - May 2023 - 24
Condo Media - May 2023 - 25
Condo Media - May 2023 - 26
Condo Media - May 2023 - 27
Condo Media - May 2023 - 28
Condo Media - May 2023 - 29
Condo Media - May 2023 - 30
Condo Media - May 2023 - 31
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Condo Media - May 2023 - 33
Condo Media - May 2023 - 34
Condo Media - May 2023 - 35
Condo Media - May 2023 - 36
Condo Media - May 2023 - 37
Condo Media - May 2023 - 38
Condo Media - May 2023 - 39
Condo Media - May 2023 - 40
Condo Media - May 2023 - 41
Condo Media - May 2023 - 42
Condo Media - May 2023 - 43
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Condo Media - May 2023 - 46
Condo Media - May 2023 - 47
Condo Media - May 2023 - 48
Condo Media - May 2023 - 49
Condo Media - May 2023 - 50
Condo Media - May 2023 - 51
Condo Media - May 2023 - 52
Condo Media - May 2023 - 53
Condo Media - May 2023 - 54
Condo Media - May 2023 - 55
Condo Media - May 2023 - 56
Condo Media - May 2023 - Cover3
Condo Media - May 2023 - Cover4
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202308
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201712
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201702
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201701
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201612
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201611
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201610
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201609
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201601
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201512
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201501
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201412
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201409
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