Question: Our association had a reserve study completed last year by a reserve specialist. The estimated cost to replace/repair common elements currently equates to less than 10% of our operating budget. If we set aside less than 10% of our budget for reserves, are the owners still required to vote to waive the reserve requirement?
Over the past few years, federal, state, and local governments have grappled with the rocketing popularity of unmanned aerial vehicles, also known as drones. The issue has also become a point of concern for some associations as they deal with the challenges and potential benefits of private drone use.
Earlier this year, a Nevada jury awarded a homeowner $614,091.04 in damages against a collection agency. This amount included over $460,000 in actual damages, and nearly $150,000 in attorney fees.
Pets are, and likely always will be, one of the most controversial topics for community associations. Many people have pets, and those that do often treat the animals as members of their family. The next several newsletters will contain tips for rule making and enforcement for pets on the premises.