Does your community use booting as an enforcement mechanism? “Booting” a vehicle involves placing a metal lock (i.e. “boot”) on one of the vehicle’s wheels making it impossible to drive or move the vehicle until the boot is removed. Although booting is not as popular as towing, it has been used by associationsGo to Resource
Category: Community Associations Miscellaneous
Association as landlord?! Occasionally it happens. Our advice to clients who obtain ownership of a home through foreclosure is to rent it out until the first mortgage forecloses on the property. One of the questions we are asked is, “What happens to our tenant when the bank’s foreclosure is completed?” The Protecting TenantsGo to Resource
How many times have you heard a homeowner say, “I gave up my house in my bankruptcy, so I don’t owe any more assessments”? Homeowners commonly make this claim. However, most of the time, they are wrong. Most Chapter 7 bankruptcies include a Statement of Intent, notifying the Court and creditors whether theGo to Resource
A North Carolina homeowners association recently discovered it is not immune from theft despite its efforts to minimize the risk of embezzlement. The Parkwood Homeowners Association lost between $150,000 and $200,000 over a 2 ½ year period when it discovered its office administrator was using debit cards linked to the Association’s checking accountGo to Resource
It appears the fall-out of condominium communities losing or not renewing their FHA certifications is now beginning to hit associations. We are starting to experience a notable increase in calls from managers, board members, mortgagees, brokers, and owners in the past month concerned and/or upset about the FHA certification process. Most associations thatGo to Resource