029-HOW CAN I SEE MY CONDO’S OFFICIAL RECORDS?

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Condo Talk
by Kay Senay

HOW CAN I SEE MY CONDO’S OFFICIAL RECORDS?

O.L. (New Jersey):  “Kay, I don’t always make the meetings and I want to know what’s going on.  What records can I see and how do I go about it?”

Dear O.L.: For years, condo and HOA boards “protected” all the records.  It was very difficult for an owner to see them, and owners had to rely on the board to communicate properly.  However, over the years association records have been “opened” to all owners or their authorized representatives.  State law and the association’s governing documents usually specify which records members have a right to see.

What kinds of records are available for inspection?

• Articles of Incorporation, Declaration, Bylaws, Amendments, Rules
• Minutes of Board and Owners’ Meetings, Ballots, Sign-in Sheets, Proxies, Voting Records
• Rosters of Owners, Board Members, Committee Members, Renters
• Plans, Permits, Warranties, Maps provided by the Developer
• Newsletters & Welcome Packet
• Insurance Policies
• Risk Management Program
• Management Contract
• Bills of Sale or Transfers for all Association-Owned Property
• Accounting Records---Operating and Reserve Fund Budgets, Audited or Reviewed Financial Statements, Current Balance Sheet & Profit/Loss Statements, Bank(s) Statements, Contracts, Invoices
• Owners’ Statements of Account, Collection Policy
• Correspondence

What kinds of records are NOT available for inspection?

• Legal Correspondence, Opinions, Litigation Records
• Confidential information obtained by the Association for approval of leases, sales, or transfers of units
• Medical records of owners
• Records that may invade an individual owner’s or employee’s privacy

What are the guidelines for record inspection?

• Fill out a written request form (hopefully your association has one).
• Specify which records you want to see.
• State the reasons you want to see them.
• Request to inspect the records at times and on days convenient to the board or management company.
• Be prepared to pay the inspection costs (copying, clerical fees)

Associations should maintain an adequate number of copies of the Articles of Incorporation, Declaration, Bylaws, Amendments and Rules so that they are readily available to owners, lending institutions, title companies, and realtors who request them.

A request for inspection of records should not be denied.  However, community associations can be besieged by member requests to inspect the records.  Many of these requests are legitimate, but some are improper.  Some requests are intended to harass the association or to gather information that will be used to sue the association.  Because the job of the board is to serve the interests of the entire association, it’s important for board members to know which requests to grant and which to deny.  Boards should create a written records inspection policy and publish it to all owners.

Kay Senay is the author of CONDO BUYING & OWNERSHIP MADE SIMPLE: TIPS TO SAVE TIME & MONEY.  Visit her website at www.condo-condominium.com for FREE TIP SHEETS.  Send your questions and stories to Kay at condotalk07@yahoo.com. 

Copyright Kay Senay 2008