How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask socrateaser Your Own Question
socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 37871
Experience:  Attorney and Real Estate broker -- Retired (mostly)
Type Your Real Estate Law Question Here...
socrateaser is online now
A new question is answered every 9 seconds

I live in a condo. The Board has decided to install cameras

This answer was rated:

I live in a condo. The Board has decided to install camera's in the club house and go to a key card entry system for entry.Currently we have employees in the office during open times. We have problems with teenagers from time to time as it is. Would this be considered a capital investment or change in amenities?

It's actually both.

A capital investment is an improvement to real or personal property, rather than a repair/maintenance cost.

A change in amenities is an alteration of the facilities available to association members. Thus, the cost of the improvements would be applied to an association asset account. The change to amenities is not a balance sheet item. It's only a legal concept.

I get the impression that the issue here may be whether or not a particular type of approval is required for a capital investment vis-a-vis a change in amenities (e.g., a membership vote). If my guess is correct, then you have an ambiguity here, but since the security and key card issues can reasonably be described as both a capital investment and a change in amenities, the more restrictive approval/vote would be the one required.

Does my answer help? Please let me know. Thanks!
socrateaser and 4 other Real Estate Law Specialists are ready to help you

Related Real Estate Law Questions