Real Estate Survival Guide with Terry Story
Business:Investing
The last topic Steve brings up is from Terry’s “Survival Guide”—“is it worth suing a rogue condo board president?” The question comes from someone who lives in a community association where the president of the board is violating multiple statutory provisions and rules. When challenged by a homeowner at a board meeting, the president invited the owner to just deal with it or sue him. Terry says that the president of the board can’t just tweak the rules to whatever he wants them to be for himself. The best course of action would be to try to talk with other owners about exactly which rules are being broken and if they are truly harmful to the community, you should consider taking legal action. Determining whether a behavior is harmful or merely technical is the important question to ask because seeking a legal recourse will probably be expensive and time-consuming. It’s always better to try to find another way to work out the problem, like convincing this board president to change their rule-bending ways for the betterment of all. If all else fails, you can try to vote the jerk out in the next board election!
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