HOAleader.com - Tip of the Week - January 11, 2013
Published: Fri, 01/11/13
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Before You Forget 2012, Learn Its Lessons
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In this week's tip, we share the first of
eight lessons that HOA insiders from across
the country learned in 2012.
1. It's more difficult than ever to run an
association. "State legislatures have been
imposing ever more detailed requirements for
how associations must conduct their affairs-
whether it's resale disclosures, disclosing
books and records, providing notice of meetings,
or requiring specific complaint procedures.
Associations and their attorneys have had to
learn to pay close attention to this
micromanagement-raising both the cost and
difficulty of doing business.
In addition, buying a condominium has become
more difficult due to the Federal Housing
Administration's certification and recertification
requirements-without which you can't obtain an
FHA loan. Associations and their attorneys and
managers have had to learn how to submit to FHA
for certification. And buyers, real estate agents,
and mortgage lenders have all had to learn how
to qualify buyers when everything must be documented
carefully, delaying loan closings and derailing sales.
Because of FHA limitations on the number of
permissible rental units in condo associations,
more associations want to impose restrictions
on rentals. I've learned that it's very difficult
to come up with a system of rental restrictions
that's fair to landlords and tenants currently
leasing while also being fair to unit owners who
wish to rent in the future.
In this more difficult environment, associations
have to be more responsive to unit owner needs
because more information about the association
is being required of buyers and sellers. Also,
there seem to be a greater number of disputes
between homeowners and their associations. In
Virginia, the legislature is requiring every
condominium association to have both a formal
complaint procedure and a resolution setting
forth the cost of obtaining association books
and records."
-Robert M. Diamond, partner, Reed Smith LLP,
Falls Church, Va.
Learn the seven other lessons to take away from
2012 in our new article:
http://www.hoaleader.com/members/805.cfm
Best regards,
Matt Humphrey
President
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Recent articles posted at HOAleader.com:
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Guns and Your HOA: What to Know About "Concealed Carry" Laws
Since the tragic massacre in Newtown, Conn., gun control has returned to the
fore of legislative debate in Washington and in state capitals. In recent
years, a growing number of states implemented laws that allow residents to
carry a concealed weapon in public. Does your community association have
the right to demand that owners leave their weapons outside common areas,
like a clubhouse, pool, or meeting room? Here are some answers.
Click here to read full article:
http://www.hoaleader.com/members/Guns-and-Your-HOA-What-to-Know-About-Concealed-Carry-Laws.cfm
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Common Options for Divvying Up Common HOA Expenses
Are there more fair ways to divide common element expenses among owners than
the methods so many associations currently use?
Click here to read full article:
http://www.hoaleader.com/members/Common-Options-for-Divvying-Up-Common-HOA-Expenses.cfm
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Board and Manager Meeting Before an HOA Meeting: Is That Wrong?
Perhaps we should file this reader's question under, "What isn't wrong with
this picture?". An HOAleader.com reader asks, "We have a situation where a
few board members on our board meet together with property management staff
and vendors at local drinking establishments before and after official
board meetings to discuss actions to be taken contrary to official
discussions and board votes at the open board meetings with the homeowners.
Click here to read full article:
http://www.hoaleader.com/members/Board-and-Manager-Meeting-Before-an-HOA-Meeting-Is-That-Wrong.cfm
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Lean or Meaty HOA Meeting Minutes: Is There a Middle Ground?
In this week's tip, we answer a reader's question about whether it's OK to
ignore your attorney's advice in favor of "just-the-facts, ma'am" minutes
and instead include a blow-by-blow account of everything discussed at your
HOA meeting.
Click here to read full article:
http://www.hoaleader.com/public/Lean-or-Meaty-HOA-Meeting-Minutes-Is-There-a-Middle-Ground.cfm
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When an HOA Board Member Wants Minute-by-Minute Minutes
It's that time of year again! It's time to revisit the issue of what to include
in meeting minutes, a topic that generates tension that may never fade away.
Click here to read full article:
http://www.hoaleader.com/members/When-an-HOA-Board-Member-Wants-MinutebyMinute-Minutes.cfm
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