Since July 1, 2018, when the CCIOA budget process was made applicable to pre-CCIOA communities, there continues to be confusion and unclarity with respect to the CCIOA budget process and especially if and how it applies to special assessments. The purpose of this article is to help clarify both the budget process and special assessmentGo to Resource
Financial Resources
We all hope to avoid conflict and to resolve disputes informally before they go to court. That is why associations are required to have written dispute resolution policies. But sometimes, a lawsuit is unavoidable. If you are a manager or board member for an association that has been sued, there are a number of importantGo to Resource
LOAN APPROVAL PROCESS: WHAT TO KNOW BEFORE YOU START
There are times when a community association may need to explore its funding options, such as if it is considering a large construction or renovation project for the community. A loan may be an attractive option to avoid relying on increased assessments, special assessments or reserves alone to fund the project. Ultimately, whether a loanGo to Resource
We tend to get quite a few questions about payment plans for delinquent accounts, beginning with “Why is this owner’s payment plan only three months? I thought it had to be a six-month minimum payment plan?” to “Do we have to offer a payment plan at all?” The answers to the above questions can beGo to Resource
Whether it be an unexpected repair or an insurance deductible, homeowners associations are more commonly turning to lenders for community association loans. This is especially true for condominium associations who may be facing large insurance deductibles related to hail damage. Loans for the Payment of Insurance Deductibles Over the last several years there have beenGo to Resource