As a condominium owner, it is natural to feel frustrated when it takes too long for a maintenance vendor to arrive, or when you head to work and the parking lot isn’t plowed. You may not deem fair one of the community’s rules. It is a common misunderstanding that your property management company is the party at the root of these issues. In this article, we explain the difference between the homeowners’ association and the management company.
Condo Associations and HOAs often find it a bit challenging to enforce all the rules. Not enforcing rules can upset members, cause issues, and possibly even create a legal issue. Here we explain the importance of implementing and enforcing rules, and provide resources so condo and HOA boards can make it manageable.
Condo and community association boards are to represent the community’s needs and act in their best interest. As such, they have fiduciary responsibility to be fair and transparent. One of our preferred vendors Keough & Moody, P.C., recently explained how the 2018 ruling in Boucher v. 111 East Chestnut Condominium Association, Inc. reminds us how to comply, and prevent issues. Read the below explanations of laws and expectations to determine if you need to change your board’s practices.
HOA homeowners’ insurance is essential to all HOAs. Make sure you purchase the the correct policy for your needs, as otherwise you are opening yourself up to a lawsuit.