Dec 1, 2011
Continuing on with our condominium blog series, we head all the way Wild West – Seattle, WA. OK, maybe not so wild… I hear Seattlites are very laid back. Their condominium market, however has dipped in recent years. In July 2010, the average condo in Seattle coast $290,000. In July 2011, that price has dropped to $255,000. Condo sales has fallen by 6% in that same time period.
Washington Condominium Act
Similar to most states condominium acts, there needs to be a quorum in order to conduct a meeting, and an election for board of directors. In Washington, at least 25% of the allocated votes need to be present for an election to begin. Building and zone by-laws set forth the rules of how votes are divided among the owners.
An interesting law for Washington, is in the case of multiple owners owning a unit, yet only one of the showing up to an election. If only one owner shows, then that person is entitled to cast all of the votes allocated to that unit, or can be given a proxy vote by the other owner.
Click here to read the full Condominium act for the State of Washington.
If you would like to learn how ElectionBuddy can easy the election of new board of directors in Seattle condominiums, I invite you to read the following article: How Online Elections Can Help Condominium Boards in the United States