At some point, each of you may likely have received a letter and some paperwork from our office about the Statutory Agent. Just what is a Statutory Agent, and why does this paperwork need to be filed, anyway?
Whether it’s the loss of a job or the accumulation of too much debt, individuals continue to look to bankruptcy for an opportunity for a fresh start. What does that mean for the Association if an owner files for bankruptcy?
Question: Our Association is involved in pending litigation, and we have reached a tentative settlement with the opposing party. We need to vote on approving the settlement; however, one of our board members is out of the country and cannot be reached at this time. Can the 4 out of 5 board members just vote to approve the settlement?
Until a few years ago, the answer to this question was generally no. While the Association could generally prevent smoking in the indoor common elements, the Association was generally powerless to attempt to prohibit smoking in outdoor common elements or within the units.
To self-manage or not to self-manage? Managing an Association is hard work. Some Associations successfully self-manage, but many underestimate the amount of work involved in doing so.
The phenomenon of “Warehousing” is very unfortunate for individual owners who genuinely need the type of help that an Association is unable to provide; and also unfortunate for the Association in dealing with such a delicate situation, especially when resources for assistance are not readily available. Warehousing is when a family member or friend of the occupant sends or allows the occupant to live in the Association rather than the proper assisted living facility or a nursing home.
Keeping coherent board meeting and annual meeting minutes is of the utmost importance for every association.
Clients often ask us about Fair Housing Administration (FHA) backed loans: What are they? Who can get them? And what do they mean for an association? There are many misconceptions about what exactly an FHA backed loan entails.
Many Associations limit the types of signs that may be posted on the property. In a case out of New Jersey, a group of owners sued their association alleging violation of their rights to free speech and expression.
Preventing delinquencies is a common goal for most associations. Likewise, collecting from delinquent owners is a requirement from time to time. Communicating the association’s collection strategy to all owners is key in preventing delinquencies in the first place.