National crises including the 2008 housing bubble and the coronavirus pandemic have impacted many unit owners. Association members who have experienced reduced or inconsistent income may now find it difficult to afford association assessments. Even proactive associations that budget for regular maintenance p...
The calculation of condominium fee payments is based on several factors, including the size of the unit, the amenities and services provided, and the overall budget of the condominium association. Typically, the larger the unit, the higher the fee. Also, properties with more extensive facilities ...
Like condos,townhomesor townhouses are located close together, so you’ll get to know your neighbors fairly well. Townhouses also often involve membership in a homeowners association, but the amenity might be a central clubhouse rather than all the in-building amenities that come with a condo....
Overall, Condo Control Forum has transformed the way we manage our condo community. It’s a robust, user-friendly platform that I highly recommend to any condo association looking to improve their operations and communication.Review collected by and hosted on G2.com. ...
The HOA or condo association is named in a lawsuit. The condo building includesmanufactured homes. The building operates as a hotel, motel or timeshare. More than 15% of the total condo units are 60 days or more delinquent, or behind, on theirHOA fees. ...
Geico could be a good option forcondo owners on a budget; on its website, it advertises policies as low as $35 per month. It also offers a lengthy list of discounts for things like having a deadbolt, a security system and other safety features. Geico extends savings to members of over...
Next to the board president, the role of treasurer is usually the most time-consuming position on a board. The treasurer receives management reports and invoices, and will review financial matters and the budget with the association’s accountant and manager. Because of this, board members with ...
Check the accounts. Standard practice is to have a dollar threshold over which purchases or contracts need board approval. If yours doesn’t, institute one without delay. The threshold will depend on your corporation’s or association’s budget, but $2,000 is average. (A number too low woul...
It is possible that when a homeowners’ association is not well funded,special assessmentsfor significant amounts of money can be assessed. For example, if all of the roofs need replacement due to age. A standalone home outside of an association generally does not have these considerations. ...
Whenever there is a contested election or issue, inspectors of election should be selected at the meeting. If the association's by-laws permit the appointment of inspectors, and at least one shareholder or unit owner demands such an appointment, compliance with the request is mandatory. Inspectors...