How to successfully challenge a condo board?
Condo board (2 of 3) and management of townhome units have been hiking fees and now want to do a special assessment (significant amount) or a loan to complete new roofing.
Many of us owners met and we all feel a decision this big has not had enough transparency, scrutiny, and there's plenty of opportunity for some corruption/not making decisions in the best interest of owners. We decided to submit a request for meeting.
Where I'm at now is how to structure the request? What's best practice? Are we asking to have a quote to amend/add bylaws? These will require >50% vote of all owners.
What we decided:
We want a board of 5 not 3.
We want to stop the process in procurement for roofing. We want the ability to select the contractor and do it in batches (not all roofs at once).
We want details on how the decisions were made so far, including quotes, specifications on work, schedule, history of the roofs, number of leaks , etc.
Please advise. Many of us feel that if this is just pushed through it will financially burden us. The property value will plummet with the loan. There's no faith in the 2 board owners as they may have no mortgage or never plan to sell.