HOA News, Advice, and Tips
The FHA has required condominium associations to get on a approved list before they can qualify for the FHA lending. However, many condo complexes are facing difficulty getting it approved since there is a limit on the percentage of rentals that can be in that community. What compounds the issue is that more people will […]
Continue ReadingOne example of an Operational Policy would be a Return of Merchandise Policy to a local department store. The Return Policy is generally clearly written on the receipt and/or posted in the store so that it is visible to all. Many times it requires the garment or item be returned in the same condition as […]
Continue ReadingThis growing influence of community associations has prompted many states to implement laws that regulate the administrative and executive powers that are being assumed by homeowners associations throughout the country. One of these laws is the requirement for community association boards to become transparent to all community members especially in terms of finances and processes […]
Continue ReadingNew Associations in today’s economic environment are struggling with the need for having reserves, but reserves are critical for an Association to preserve the property and have funds for capital expenditures. Equipment and major components (like the roofs) must be replaced from time to time, regardless of whether we plan for the expense. We prefer […]
Continue ReadingTo operate a successful community association, there are many important facets of association governance that must be understood and implemented by the association’s board of directors. One of the most important facets is the budgeting process. Serving on a board of directors is like running a small to midsize business – – with all of […]
Continue ReadingWhen you bought a home in your community, you should have received copies of all your governing documents for your Association, including the rules and regulations, prior to or at closing. Sometimes these documents get lost among all the other papers you received at closing. Additionally, many homebuyers are so involved with moving into their new […]
Continue ReadingOne of the fastest, least expensive and therefore most popular methods to enforce deed restrictions is through a system of fines. However, this enforcement tool also contains a number of potential pitfalls and hidden dangers for unwary board members and managers. All condominium associations are granted the right to adopt a system of fines pursuant to […]
Continue ReadingThe word green is synonymous with caring for our environment and a green community has multiple meanings. Green community can refer to a community actively engaging in energy conservation. A green community is a community using renewable resources. And a green community can promote re-purposing materials. In short, a green community favors the motto “reduce – […]
Continue ReadingWhen you are living in a condominium, having a noisy neighbor can be trying, especially since neither you nor your neighbor(s) are likely to be moving away any time soon. However, if you take the right steps at the point that you notice a problem, you are mostly likely to come to a satisfactory resolution in a relatively short period of time.
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