Condo resident asks MA for transparency on facebook

A resident took to facebook group MCST and posted the following.

To which a few others replied…

I assume every seven years the residents re-accumulate the equivalent of 60% of their existing Sinking fund. Sounds like one of the following.

1. The condo has very few things to maintain, except for painting. 2. Condo is running out of funds after the paint job. (see previous post)

If only more residents start attending AGMs/ EOGMs, asking the right questions (“not the second parking lot”). Then will the prudent decisions be made.

As to Fand’s question about how an AGM can be conducted without sufficient owners. A quick reference to BCA will show you the criterion. See screenshot below.