Each spring when weather begins to warm up, residents eagerly anticipate breaking out their swimsuits, while at the same time condominium and homeowner association boards begin to expedite opening community pools. Ever present in the minds of those tasked with this job, are the possible unexpected delays and problems that have the potential to derail the best laid pool opening plans.
“Breaking up” may be hard to do but when an association is ready to call it quits with its property management company and enter into a new relationship, there are some best practices it should follow. We spoke to Leonard Barber, CPA, CMCA, PCAM, President of Executive Property Management in North Brunswick, New Jersey, who offered some insight on the matter.
Board Member Voting: Is My Ballot Private?
Neighbors in a community may be friends, however, it’s possible someone may not think their friend would make a good board member. This puts them in a funny position when their friend asks them to sign a proxy for their community’s board election. Can owners in condominium and homeowner associations vote with the confidence that their vote will be confidential?
For some, one of the downsides of living in a condominium or homeowner association has always been close proximity to your neighbors. This can especially become a problem when your neighbors are loud and inconsiderate. But what if the rowdy family “next door” is a feral cat colony? What are your options when feline squatters settle in your community?
Changes on the Way for FHA Condominium Certification Process ?
The Housing Opportunity Through Modernization Act (H.R. 3700) was signed into law on July 29, 2016 with the intention of reforming the Federal Housing Association (FHA) loan program for community associations. The FHA serves to insure mortgages and because of that, it has to be attentive to risk, said Philip Sutcliffe of Project Support Services in Lansdale, Pennsylvania, a company that assists condominium associations with FHA certifications and recertifications. He explained that the FHA’s policy is to insure loans in communities that offer a reasonable expectation that the loans are going to get paid on time.