If the policy involves changes in procedures or new compliance requirements, consider offering training sessions for board members and homeowners. This could be particularly important for complex policies, such as those related to architectural guidelines or assessments. Gather Feedback After the po...
So, the unit owner’s policy is primary, but only until it becomes clear that the damage will cost more to repair than the deductible. For commercial condominium projects ( projects with no residential units), the insurance requirements of Utah Code 57-8-43 no longer apply for insurance ...
Fidelity Bond CC 5806 Requirements(pdf)Download 5 Things Boards Should Know(pdf)Download Personal Homeowners Insurance - Do you need it in an HOA(pdf)Download Useful Links Condo Balcony Inspection Learn more about the legislation effective January 1, 2020 related to Condo balcony inspections and abo...
The board must ensure that the HOA has adequate insurance coverage to protect against potential liabilities, property damage, and other risks. This includes reviewing existing policies, obtaining quotes for coverage, and recommending insurance requirements to homeowners. Effectively managing these financial ...
Client Alert: Community Associations’ Use of Best Efforts to Obtain Insurance Client Alert: The Corporate Transparency Act Imposes Reporting Requirements Applicable to Many Condominium, Cooperative, and Homeowners Associations Archives June 2024 May 2024 ...
Maintenance Requirements Homeowners will be expected to maintain a certain standard of their homes. This will include outside spaces like the lawn, driveway, and the house itself. There could be restrictions on what you can do to your home and the color you can paint it. ...
New Law Sets Reserve Requirements for NJ Communities: An Interview With Attorney Michael S. Simone 2024 May Spring Awakening Sprucing Up for the Season 2024 May Does Curb Appeal Really Matter? Maximizing Aesthetics, Morale, & Value Design
Florida HOA and COA Board Members just got “Schooled”: Understanding the New Education Requirements under House Bills 1203 and 1021 Florida HOA and COA board members now face new education requirements under House Bills 1203 and 1021. These laws mandate comprehensive training to ensure board member...
This is partly due to extensive insurance damage and partly the fact that condominium associations tend to have numerous stakeholders, each of which has their own opinions, requirements and concerns. When a loss occurs to multiple buildings/units in a homeowners association, it is very difficult ...
New Law Sets Reserve Requirements for NJ Communities: An Interview With Attorney Michael S. Simone 2024 May Spring Awakening Sprucing Up for the Season 2024 May Does Curb Appeal Really Matter? Maximizing Aesthetics, Morale, & Value Design