Need help in your condo? Submit a Question to our experts and we'll post a Q&A on the topic.

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A. Our Association was formed in 2005, but we have never reported income on IRS forms 1120-H or state form 1120. What are the consequences?

Q. I'm condo president. One unit on the first floor is experiencing some water damage on her bathroom ceiling. The second floor above her had called a plumber to come out and look for a leak as well to fix.

Q. I have a question on deeded garage spaces and am not sure if I have a case. I own a 4-floor townhome and the first floor is the 2 car garage. One space of the garage is deeded to a condo owner in the complex. I do not know if this is true, however I heard that a garage needs to have 2 exit points in case the door breaks and you are inside.

Q. What are the advantages/disadvantages of having a condo owner occupied v income property? (I am using the term "income property" loosely, I know at least one person in our HOA is losing $300 per month by renting it out, but she lives out of state.)

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