How many condominium associations are in the USA?
According to Community Associations Institute, the latest number available, for 2009, indicates that there are 60.1 million residents in 24.4 million housing units located in 305 association-governed communities in the United States.
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Regarding Condominium laws who is eligible to be on the association board?
Usually just the person that owns the condo. . Review your governing documents to understand the qualifications for board membership in your particular community. No two states establish the same requirements; as well condominium governing documents will vary wildly on this point. During the declarant control period, when the project is new and the developer/ builder is still selling units, the declarant may have special rights of board appointment. Reasonably, however, in established condominium communities, being an owner is generally a requirement. In many communities, being a resident is usually preferable, although it may not be required.
When does a condominium association cease to be an association?
Usually, the association must be dissolved in order for the association to cease. (It may not be in good standing under the guidelines of the Secretary of State, but not filing your annual renewal -- if one is required in your state -- but this may not automatically dissolve the association.) Your governing documents may provide a process or method of dissolving the association. Dissolution usually occurs in the case of a disaster that essentially destroys the physical structure. Dissolution may also be used when the project's developer has established an association favourable to the developer and then the developer abandons the project. Remaining owners, including the developer's lenders, may choose to dissolve the faulty association and form another that is more useful to the operation of the community. NB: The status of the association is the business status; the declaration status, which is the land-use status, is not affected when the association's status is changed.
What is a condominium?
The word condominium generally means sharing ownership with others. A condominium is legal arrangement whereby multiple owners share ownership of real property. A portion of the property in the form of units is individually owned and the rest of the property is owned in common with all the unit owners subject to the provisions of the Declaration that created the condominium and to the provisions of state law. Generally, a condominium project is a form of fee ownership by which several owners share ownership of a building(s) by each owning their respective units. In addition to their unit, each owns a proportionate interest in the land that forms the condominium property and common areas of the condominium such as pools, recreation areas, game rooms, community rooms, elevators, stairwells, corridors, streets, surrounding land, laundry rooms, and unassigned parking areas. By the acceptance of their unit deed each unit owner agrees to have their unit subject to the provisions in the Master Deed. Although a condominium is governed by statutory law, can promulgate rules and regulations and assess monthly maintenance fees, the ownership of a condominium unit is considered a fee simple estate.
Can a condominium association write off assessments that were unpaid?
Depending on the status of the unpaid assessments, you may need or want to write them off as bad debt. If collection efforts are ongoing to recover the debt, I would not write them off, but as a conservative treasurer, I would discount them and consider something less than 100% of that value is projected revenue. If there are no collection efforts, or if those efforts have failed, you may be able to write them off. Your governing documents will guide you, as will your individual state law. The key is to keep a wide trail and document whatever action the board opts to take in this case.
Can a condominium association unilaterally remove my satellite dish?
No. If the dish is mounted in an area you have exclusive use over. Here is the FCC guideline: www.fcc.gov/mb/facts/otard.html . Your governing documents may detail the process to follow in order to receive written permission to install a dish. A dish can be limited in its size, its shape and in its installation footprint. If you did not follow the documented process in order to receive written permission to install the dish, the association can remove it and charge you to repair the limited common area where you installed it. Removing it may also be possible if it violates any of the parameters listed in your documents. If you are a tenant, generally you must receive written permission from the unit owner, which in turn must be requested from the board, as above.
What are the consiquences of a Condominium Association putting a lien on your condominium home in Ohio?
If Ohio is like most other states, the recorded lien effectively clouds your title, so when you attempt to sell the unit, the lien shows up in the title search. As owner, the lien may also appear on your credit rating.. The lien must be lifted in order to pass clear title along to a new owner.
How do you contact Condominium Associations directly?
A condominium association is the business entity involved in condominium ownership. The condominium association is usually a non-profit corporation, and is listed with the Secretary of State in the state where the condominium community is located. The Secretary of State's records are usually public records. As well, residents and owners of a condominium community should know who sits on the association's board of directors, and their contact details. You can also contact a condominium association through its property manager.
What sales tax does a condominium association have to pay on social events?
Your question depends on the location of the association -- which state -- and the vendor that the association proposes to pay. If, for example, you hold your Annual Meeting at the local sports palace, and you agree to a no-host bar, a buffet of snacks and use of the club room, the venue will probably charge you sales tax, which you should pay. If there is no sales tax in your state, or if you believe you have a tax-exempt status, you may pay no tax. You need proof of your tax-exempt status from the state agency where the association is located before you book the venue.
Letter for condominium association non payment?
Read your governing documents to understand what details must be included in a letter you plan to send to a unit owner to collect late assessments. You may also want to include additional steps you plan to take if the late assessments are not paid. You can include in your letter, the language from your governing documents that outline an owner's legal responsibility to pay assessments. Finally, you may want to work with an attorney, so that you follow the guidelines established by your governing documents for collecting assessments. If you fail to follow the guidelines, your owner who is in arrears may be able to delay paying even longer, based on a technicality.
How do you get a condominium?
You buy one. Or you might inherit one. Or you might receive one in trade.. In any event, in order to own a condominium, the deed to the real estate must be in your name.
What are pitfalls of Condominium Associations?
All condominium associations are led by boards of directors,because the association is a corporation. Some board members -- and too many owners -- fail to read thegoverning documents established to guide the business of theassociation. As a result, the board may not act in leadershipmode , which can be a pitfall. When owners fail to read their governing documents, or for whateverother reason, fail to pay their monthly assessments, theassociation may not have enough money to pay its communal bills.These services might include, sewer, water and other utilities,master policy insurance premiums, landscape expenses, preventativemaintenance items, and so forth. As a result, the condominium association can find itself in acrisis, whether caused by poor management or by a natural disaster,and have no guidance for surviving the crisis. When an owner considers buying into a condominium, due diligenceincludes reading the governing documents, and the last three yearsworth of board meeting minutes and association financial reports. A condominium association in crisis or on its way to a crisiscaused by poor management can be easy to spot, and therefore avoid.Such an association would also be one to avoid, because it mightnot be able to recover from a natural disaster. Finally, depending on the location of the condominium, -- statelaws apply -- a new development's association can be in danger,because the association is not well formed, or is formed by thedeveloper and does not effectively represent new owners. Another Perspective In many cases the association isn't sustained and no one is incharge. Many have been abandoned by their developers before astrong until owners association was established. No entity collectsthe common fees, no one is in charge of maintenance and upkeep, noone enforces the rules and regulations and no one is in charge ofrepairs. This has happened with many condo projects that were notcompleted before the market crashed in many regions. Also, manyassociations attract people who like to be in charge as an egobooster but do not follow through on their responsibilities.
Can a condominium association evict a tenant of an owner in Maryland?
The governing documents for the condominium association, known as Covenants, Rules, Regulations and Restrictions (CC&Rs), the associated By-laws and any Board Resolutions constitute the steps and processes involved in an eviction process. As well, there may be state laws regarding eviction that must be followed in order to evict anyone from any type of real estate. No two condominiums are exactly alike, regardless of where they are located. One of the things that makes them unique is the governing documents.
How many condominiums in the first Resort Condominiums International directory?
A brief search reveals that Resort Condominiums International (RCI) was formed in 1974, specializing in time-share vacation rentals. It is not clear how many entries existed in their first directory. You can read more about their beginnings, below. As well, you can view their current site, below. (Please note that this link does not imply any endorsement of this business.)
Does declaration of condominiums serve as by-laws for an association?
Usually the declaration (decs) includes the Articles of Incorporation for the association, the covenants, conditions, restrictions and reservations (CC&Rs), and the by-laws. The Articles of Incorporation facilitate the association's ability to legally do business with a state, usually as a non-profit corporation. The CC&Rs -- you can think of them as the constitution for the association: they are not easy to change or amend. By-laws -- you can think of them as the 'rules': they are easier than the CC&Rs to change or amend. In addition, the board may pass Resolutions regarding specific issues, such as the process for collecting assessments, establishing rental restrictions, move-in/ move-out guidelines and fees, responsibilities for bank-owned units, and so forth. All of these documents make up the governing documents for an association.
When a condominium association has a right of first refusal in their declarations what does that mean?
It depends on what the association has '...a right of first refusal' over.. Legally, the right of first refusal is a contracted right that gives the holder -- association in this case -- the option to enter into a business transaction with the owner -- probably of real property in this case -- according to a unique set of terms, before the owner can enter into a transaction with a third party. If the association has the right of first refusal over the purchase of a unit, then, in order to sell the unit to a buyer other than the association, a seller must first offer the unit for sale to the association, and the association must refuse to purchase the unit. Once the transaction has been refused, the owner can sell the unit to a buyer other than the association. The terms of the right of first refusal can include a price, a payment plan and so forth.
How do you fight a stipulation of settlement from a condominium association?
A stipulation of settlement indicates that the parties to a legal dispute have arrived at a formal agreement resolving their dispute. If you are one of those parties and the other side has presented a stipulation of settlement and you don't agree then you will need to fight it out in court. Your best option is to engage the services of an attorney and present the attorney with the facts, so that the attorney can represent you and your interests in the settlement.
How many condominiums in the US?
The 1990 census -- apparently the latest census so analyzed -- reports these statistics by state. You can read more, below.
Can a condominium association enter a unit that is in foreclosure?
It's a good idea to check with the current owner -- the bank, or whomever owns the unit -- before entering it. For safety and security reasons -- to inspect for potential frozen pipes, turn off the hot water heater, set minimum heat in cold winter months, and so forth -- the association may be in a more immediate position to ascertain what tasks must be completed to verify that an empty unit poses no hazard to the community overall, than the current owner. Your governing documents may also describe the minimum notice period and form of notice required prior to unit entry, with the extra tip that posting a notice of intent to enter on the door might be a good idea. Upon entry, it will be a good idea to document the tasks to be performed, the names of the people who entered the unit -- usually two -- the time and date, and other key details. Leave a copy of the entry log on a counter in clear view, simply to produce transparency in this board action.
In Maine is a condominium association required to have an annual audit performed?
Read your governing documents regarding mandatory audits. Depending on the size of the community in number of units or annual income from assessments, the membership may be able to vote against having an annual audit. Also, review the Maine state law governing condominiums and non-profit corporations -- if your association uses that legal construct -- and determine what audit is required.
How much are condominium association accounts worth in the market?
If you are a vendor, selling services, a condominium association account can be valuable, because condominium association board members compare notes and discuss vendor quality among themselves. If you exceed in service delivery -- go the extra mile -- the association can report that you are a high-quality vendor worth considering. If, however, you under deliver, or fail to set expectations you can meet (or fail to meet expectations you set); if you act punitively or fail an association, your reputation can follow you throughout the geography. Condominium associations as a group are tight-knit and depend on each other to find the best vendors.
What is the role of a condominium association board president?
You can take a free, online course that will help you understand the fundamentals of association leadership, using the link, below. Otherwise, your duties and responsibilities are also detailed in the governing documents of the association where you serve as president of the board. The free course will give you broad basics; your governing documents will give you the particulars of your presidency.
Right of first refusal for condominium association sample?
This right is documented in your governing documents, because each situation is unique. Essentially, it means that should you decide to sell your unit, the association reserves the right to purchase it, and if it refuses -- by right of first refusal -- to buy it, you can sell it on the open market.
What determines the transfer of ownership from the developer to the condominium association?
Depending on the state where you live, there are official documents that must be prepared and presented to the association from the developer at the end of the 'declarant control period'. As well, the public offering statement given to each buyer of a new unit by the developer clearly spells out the several scenarios that can mark the end of the period. It may be some number of years after the first sale; some number of years without adding new units and so forth. Primarily, it is imperative that the developer turn over plans, warranties, designs, and so forth, to the association, so the association can maintain its real estate assets. This is an official step that is best taken with the guidance and leadership of counsel.
How many rental units are allowed in a condominium?
The number -- usually expressed as a percentage of owner-occupancy -- depends on your governing documents. In recent times, the governing documents you need to look for are those board meeting minutes that contain references to 'rental caps' or resolutions that the board has passed establishing the number of rental units allowed by the association. Boards must be vigilant about this number, because lenders review the number before giving mortgages to prospective unit buyers. When there are too many rental units, the lender may deny a mortgage. Government entities, such as 'Freddie Mac' and 'Freddie Mae' recast this percentage several times during 2009-2010, so in order to position the association's units as desirable to mortgage lenders, boards have used their percentages. A local lender can give you the desirable percentage today, since the number does have a tendency to fluctuate.
How do you remove officers of a condominium association and the paperwork needed?
Read your governing documents where you can find the process to remove a director. Usually, this is done by an uber-majority vote of members: 67% or two-thirds or some number greater than a simple majority, in a public meeting called by the board where a quorum (of board members) is present. If your association is a corporation registered in your state, you can update the state records to indicate the new makeup of the board.
Complaints of homeowners in court against condominium association?
You don't indicate in your question whether you have a court action or are contemplating one. If owners are already in court in an action against the association, the key will be documentation and proof and your governing documents -- which are based on your state's condominium law. Your attorney can counsel and guide you about what to collect. If you haven't filed an action yet, be aware that there is work people can do without spending money to clarify situations. Your association is made up of owners elected by other owners who volunteer their time to serve as the board of directors of the association, which is a business: it's the business of protecting, preserving and maintaining the real estate assets that your private democracy owns in common. The first step any board member must take is to read and understand the governing documents. It's the 'constitution' and 'bill of rights' that governs the operation of the community. (If your association is new and your association remains under the control of the developer, that's a question that hasn't been asked.) The first step any homeowner must take is to read the governing documents. When owners complain, the complaint must be legitimate under the unique guidelines for that community. Your governing documents set out the process whereby owners can change the governing documents, vote board members off the board and so forth, usually by a majority vote or super majority vote of all owners -- not just those present at a board meeting. If you have a particular complaint, please ask a more specific question.
How to write a personal letter of reference for a condominium association?
Any letter of reference, regardless of who you're writing it to, should contain roughly the same information. One idea is that you write the letter using the salutation, To Whom It May Concern. You most properly address a condominium association by addressing a letter to the Board of Directors of the corporation, usually in care of the management company.
What is a condominium association exclusion rider bond?
Your broker can explain this concept to you given your particular situation in your state.
What are the steps in changing bylaws of a condominium association?
Your governing documents are specific about amending your by-laws, because this process is different in every community. The steps may include: . Working with your association's attorney to craft the resolution or other-titled amendment; . Notifying every owner of the purpose of the resolution, and providing every owner a copy of the amendment; . Establishing a voting process that could include proxies and ballots; . Counting the votes, broadcasting the results to the membership and filing the amendment as a permanent addition to your community's governing documents. Usually, it's easier to amend the by-laws than to amend the covenants, conditions, restrictions and regulations (CC&Rs), because both are amended by a percentage of votes of the membership. By-law amendment is typically 51% or a majority, and CC&Rs amendments is typically a super-majority, such as 67%.
What are the steps to change bylaws in a condominium association in new jersey?
Read your governing documents to discover the process for your condominium. There is no standard, but generally, a vote of a majority of owners is required.
What is the difference between a condominium and a home owners association?
Generally, a condominium is a collection of multi-family units and an HOA consists of single-family units. However, this generalization is not always exact. Both are ownership styles of real estate, where owners own individual units and own common areas in common with all other owners.
Does condominium association insurance cover bedbug infestation?
The association's master policy is the insurance you reference. Your master policy broker will be able to answer your question for you. Otherwise, your tenant's policy or owner's HO-6 policy may have coverage. Again, contact your broker who can give you the answer you need.
Can I sue my homeowner's association for restricting rentals in our condominium development?
Of course. You can sue anyone for most any reason. Here's why you might not want to take this approach. . When you sue your own homeowners' association, you're suing yourself. . Rental caps are in place based on an amendment to your governing documents that received an uber-majority of owners' votes in order to pass. You live in a community that is a private democracy where you agreed to abide by the governing documents when you purchased your home there. When you want to rent and are not happy with your position on the waiting list, or if you are not allowed to rent your property, best practices dictate that you request an exemption. The 'rental cap amendment' may have provided for exemptions. Read it and determine your more reasonable options. If the amendment was passed using the appropriate amendment process and was filed in the local hall of records, and if you choose to sue the association (yourself) based on the board's operating the community according to the choices made by the majority of owners, your chances of winning are not high. Another Perspective If rentals are limited in the Master Deed and Rules and Regulations then you would have no cause of action. You need to review your condo documents before you file suit. It is a fallacy that you can sue anyone for any reason. Frivolous lawsuits may cost you money.
Can a Condominium Association fine you for profanity if you are just renting the condo?
Yes. When you rent a condominium, you are subject to the same rules and regulations, governing documents and guidelines as an owner -- except that you cannot vote in association business.
Can a homeowner in a condominium association be the paid property manager?
Overall, this is probably not a good idea. Read your governing documents to determine whether or not this practice is allowed. (It is generally forbidden if the owner is also a board member.) Next, think through the process and determine whether or not the homeowner will be able to survive the differences of opinion that will arise in the course of performing these duties. (To the homeowner: Remember, you live with these people.) The role of a knowledgeable property manager includes not only following the governing documents for the community, but following the state law that governs condominiums. This position is a heavy-weight, professional role. A property manager can advise the board about matters and processes based on local experience, which is critical to a board in three basic areas: . Business and finance . Governance . Community A homeowner without the requisite expertise and experience may also face personal liability if matters become contentious. In the link, below, you can read more about the role of a property manager and how to choose one.
Is the condominium association responsible for damages caused by vandalism?
Read your governing documents to determine who owns the assets that were vandalized. Your first task is to document the vandalism and report it to the police. Depending on the vandalism, you may be forced to separate the repair from who pays for it. Best practices dictate that you work closely with your board of directors and your property manager to identify the full extent of the damage, find vendors who are licensed, bonded and insured, to repair it, then file claim(s) against the appropriate insurance policies to pay for the repairs.
Do Condominium associations have to have A Board of directors?
Yes, many (and maybe all) condominium associations have boards of directors. This style of real estate ownership -- an association -- is a business. The business is properly registered with the Secretary of State (the location of the community) as a corporation, usually a non-profit. Business require boards of directors in order to operate the business of the association.
Are there many Baltimore condominiums for rent?
"As with any major city in the United States and Canada, Baltimore is definitely a city in which there are many condominiums for rent, especially within the downtown area. An idea is to contact your realtor and they would be able to look through the Multiple Listing Service to assist you with your search."
Can you belong to a condominium association for use of common areas only?
Read the governing documents to determine of this class of ownership is allowed in the common interest community where you want to use the common areas.
What are the average condominium association fees and maintenance fees in 33434?
There is no standard for association assessments, because those funds pay for operations of the property. Expenses may include master insurance coverage, landscape work, association management, utilities and so forth. Every association is different from every other association. A local realtor can help you best understand the assessments that cover the community containing a unit you want to buy. That realtor may also help you understand if the assessments for a community are 'too high' or 'too low' for your Florida neighborhood.
Is Attic Common Element of Condominium and Covered by Associations Insurance?
Read your governing documents to determine the boundary between what is owned by individuals and what is owned in common with all other owners: common areas/ limited common areas. As well, the association's broker can help you understand what is insured in the attic area, if the policy is an all-in policy. There is no standard. Best practices dictate requiring owners to carry individual HO-6 insurance policies to cover their property, which may include items stored in their attics or the association's attic/ storage areas.
How many stories are there in medium rise condominium?
Your answer depends on your location. In some geographies, this maybe five to 10 stories.
What is considered a meeting for a condominium association under sunshine law?
Many states have individiual sunshine laws -- and there is afederal sunshine law requiring openness in governance, includinggovernance meetings and records. Read your governing documents to determine when and how your boardcan conduct business -- make motions, vote on motions, and soforth. Any such gathering may well constitute a 'meeting'. Ownersmay also call informal, educational meetings, where boards or boardmembers do not conduct business. These may be private, or moreprivate than formal board meetings. As an owner, you are entitled to inspect business records of theassociation. You may be required to present yourself at theassociation manager's office during office hours, but you mayreview any and all such records. You may learn more from your state Community AssociationsInstitute, as below.
How many condominiums are there in Scottsdale?
There may be more than ten condominiums located close toScottsdale, Arizona. Meridian CondoResorts, Camden San Paloma,Camden Legacy, Scottsdale Camelback Resort, and Pima Inn Suitesjust to name a few.
Can you be a president of the condominium association when you are a community license agent?
So long as y our licensing work holds no conflict of interest withyour volunteer work as an association president, this should beworkable. Be aware, however, that you may not influence the association inany way in any matter involving a community license for thatassociation. If such a topic comes up, you must recuse yourselffrom any dialog and any vote, noting your conflict.
What is the purpose of condominium association insurance?
The purpose of the condominium association insurance is to guard the tenants from having to pay for water damage caused by leaky faucets or from damage to the structure of the rental establishment. The purpose of the condominium association insurance is the same as any other insurance policy and that is to have in place moneys that the tenant do not have to pay in the event of a mishap to the structure of having lived in the dwelling.
Can you go back to your condominium that you still own if you did not pay the Condominium Association?
Your access to your real estate may or may not be affected by your non-payment of assessments that you owe. For example, if the association has filed liens on your title and performed other acts to collect your past-due assessments, they may have taken the final step which is to sell your unit to pay what you owe. If this is true, you should be well aware of the status of your access. As well, the association may have changed the locks on the entry doors. If, however, no action has been taken by the association to collect your past-due amounts, you may well be able to 'go back' to your condominium. That said, once you re-establish residency or attempt to rent the property, your association may begin or renew actions to collect what you owe. Best practices dictate that you work with the association to 'clean up' your obligations.
Can a condominium association limit the use of electric sockets in a garage?
Your answer depends on who owns the sockets. If the sockets are available in a common-area, open garage area,and the association pays for the electricity, they may be able tolimit your use. If the sockets are in your attached garage and you pay theelectricity, the association may not be able to limit your use. If you are charging an electric vehicle, the consumption ofelectricity can be much greater than average. It is reasonable thatthe association would limit your access to this utility, given thatcharging a car could be considered excessive, and the utility ispaid by all owners. You may be able to work with your association to establish acharging station in an open garage area, where you alone can bemade responsible for the expense.
How can a condominium association be converted to a homeowner's association?
The definition of condominium ownership is contained in theland-use documents filed in the local hall of records by theoriginal developer. In order to convert the land-use to another use, you are bestadvised to find a local, common-interest-ownership-savvy attorneywho can help you understand the pros and cons of both types ofcommon interest communities. As well, this attorney may be able tohelp you convert the land-use to the one you want.
Can a condominium association evict a tenant of an owner in Florida?
Generally, tenants are required to live in condominiums in the sameway that owners are required to live there. Several steps must bein place, however, according to best practices, in order for anassociation to evict a tenant. First, there must be evidence that the tenant has been given allthe pertinent documents that outline how an owner lives in theproperty. Then, that the owner sent a copy of the lease with thetenant to the board, and prior to occupancy, cleared theprospective tenant's financial and background reports to theowner's satisfaction. The association must have been involved in addressing any 'rules'violation against the tenant through the owner, that have not beensatisfied by the tenant or the owner. Finally, the association's records must show that the board has thepower to evict a tenant, given an owner's inability to do so.