A homeowners association (HOA) is an organization tasked with governing the affairs of a real estate development owned by multiple parties such as an apartment building. HOAs are responsible for tasks such as ensuring building maintenance, deciding on whether to pursue larger renovation projects, and...
HOAs have bylaws that vary from community to community and state to state. There are limitations to living in a community with an HOA, including regulations on what type of dog you’re allowed to own, whether or not you can install a hot tub or fire pit or the ability to rent out you...
Certain motions, such as changes to the bylaws, require advance notice. If someone announces his intent to make the motion at the next meeting, the secretary needs to record the notice. Amending Minutes Before Approval After the meeting ends, the secretary writes up the draft minutes, to be ...
The COA may not impose a right of first refusal clause, which dictates who a condo owner can sell to and when. If a COA or homeowner’s association (HOA) has such a clause, it must waive it for VA borrowers. Lenders may also have their own requirements separate from what the VA want...