The management company is also responsible for ensuring the condominium bylaws are observed. They must speak to anyone who does not adhere to the agreed rules within their own apartment or in the shared parts of the building. If warnings by the management company do not bring any improvement, ...
For every individual purchase of a condominium unit, the condominium corporation must pay the corresponding income tax. Revisiting the tax liabilities of condominium corporations At a condominium business talk organized early September 2015 under the theme How to Build a Condominium in Cambodia" where ...
Section 6/1In the case of a person having freehold ownership in the land and building in accordance with Section 6 has made the advertisements to sell the units in the condominium, such person must keep in his office copies of the advertising contents or pictures or letters of induction adve...
Freedom of expression may be one legal issue that boards must face; the other side of the coin for boards to consider is the privacy of its residents. “We had a case,” states Rosen, “where a candidate for a board position wanted the names and addresses of all unit owners. Even thou...
the sponsor, it’s possible that work performed on sponsor units could be charged back to the building. It’s possible for such relationships to be run ethically, but all parties must properly disclose their relationships and sign conflict of interest waivers, and board oversight must be ...
The three basic instruments used in the purchase of a condominium are a deed to the unit; a declaration of condominium; and the bylaws of the condominium association, the membership of which is comprised of the units' owners. An individual buying a condominium receives a deed, which must be...
Bids must be kept for at least 1 year after the receipt of the bid. Before bids had to be kept for at least 7 years. Renters now have the right to inspect and copy the declaration of condominium in addition to the bylaws and the rules. Previously, renters had the right to inspect an...
include following the procedures set forth in the governing documents pertaining to decision making, holding meetings of the board and open meetings of association members, voting, keeping minutes and preparing board resolutions. The board members and officers must also deal with and resolve disputes ...
include ADRs in its zoning ordinances for residential districts as a permitted accessory use. A property owner must obtain a permit for an ADU and if the property meets certain enumerated requirements the locality must issue the permit. The bill prohibits the locality from requiring special rear ...
As you can see, knowing what a condominium homeowners association is and does is crucial if you buy a condo. This is a serious question every potential buyer must ask. Are you willing to put up with the potential negatives for all of the positives? When buying a condo, you might not ha...