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By RICHARD WHITE

Tribune correspondent

Published: December 14, 2008

We are considering buying a townhome in a community and would like to obtain the minutes from past meetings as well as financial information, such as the funds in reserve for building maintenance and repairs. Are we entitled to this information before we make an offer and if so, can you tell us how to go about obtaining it?

G.T.

Tampa

What a great way to know the association before you make an offer! Your request is perfectly reasonable. The seller should get the information for you, because most associations won't allow the board to provide it directly to an outsider. There may be a copy cost.

Minutes may not provide you with what you're looking for, but a copy of the budget and last financial report should help. Condominiums, and many homeowners associations, have a question-and-answer sheet that provides some basic information. Before you make an offer, be sure to read the association documents. Make sure you understand the rules and deed restrictions. You may find, for example, that there are restrictions on parking and extra cars parked in the street are a violation.

Many boards will allow you to meet with them and answer your questions. Make an appointment to clarify any questions that arise from your reading.

My daughter's condominium has increased fees from $140 per month to $190. There is a separate assessment of $250 and now new insurance fees of $600. This seems like too much money for a small, one-bedroom condo. Is this legal?

J.B.

Fees must be calculated each year in a budget that is approved by the board. The budget is regulated by the state to contain certain items. The unfortunate situation is that many new owners do not realize how much it costs to maintain property, including repairing and replacing damaged features. The owners share such costs.
Maintenance costs tend to increase as a building and other components age, and there's inflation as well.

The old saying is that there are two things certain in life, death and taxes. I must add a third: increases in association fees.

Richard White is a licensed community association manager. He does not offer legal opinions; any other questions and comments concerning association operations can be sent to Richard White, 6039 Cypress Gardens Blvd., No. 201, Winter Haven FL 33884-4115;

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