What Financial Records and other Documents must be Disclosed to Homeowners

I have lost track of how many times I hear this question. All of us have asked it. The answer can be a little tricky if you are not careful. The starting point is most states like Arizona is the statutes. In Arizona, both the Condominium Act and the Planned Community Act provide that “all financial and other records of the association shall [not may] be made reasonably available for examination by any member or any person designated by the member in writing as the member’s representative.” Some directors think that they can charge a homeowner for making the material available for inspection. They would be wrong. “The association shall not charge a member or any person designated by the member in writing for making material available for review.” Other people think that the association can charge a copy fee. They would be right. “An association may charge a fee for making copies of not more than fifteen cents per page.”  Of course, the board may keep certain records confidential.  The exceptions are spelled out in A.R.S. 33-1258.

Much more is written about this topic in our Question and Answer section.  Click here to view those articles.