Often, managers of Homeowners Associations (HOAs) are hesitant to conduct special assessments, as the money required to perform them may not be recovered, and the frequency of these payments can be unknown. That’s why it’s important to have reserve funds readily available to pay for these repairs and replacements. The question is, how does the HOA board know how much money it needs to set aside?
According to the Foundation for Community Association Research, around 75.5 million people in the United States live in a homeowners association (HOA) community, which is more than 30% of the U.S. housing stock. Reserve studies refers to a vital capital planning tool for Homeowners Associations and condominium associations that provides directional guidance and an in-depth analysis of community assets.
The Federal Reserve is hoping to provide some economic relief to Americans through an interest rate cut made in September, as preparation for a potential recession continues. Higher interest rates have stunted the housing market, as home buyers are pulling back due to high borrowing costs and soaring home prices.
ADUs have the potential to increase housing affordability for homeowners and tenants, create a wider range of housing options within a community, and facilitate better use of the existing housing fabric in established neighborhoods.
In March 2024, the National Association of Realtors (NAR) entered into a proposed settlement agreement with various homeowners to resolve a nationwide litigation concerning broker commissions.
On August 30, 2019, legislation was enacted that focuses on balcony safety, particularly balcony safety for common interest developments. Senate Bill 326 (SB 326) requires
California Assemblymember Laura Friedman recently introduced Assembly Bill 1401 (AB 1401), which would remove the minimum parking requirement for new housing development projects in areas
Last month, Assembly Bill 1101 (AB 1101) was proposed by California Assemblymember Jacqui Irwin (D-Thousand Oaks) to establish much-needed protections for homeowners association funds. There
Remember that old saying about what happens when you ASSUME? Well… it’s still true. We have a client who bought close to 100 lots on
DRE Regulations allow for HOA assessments to be waived for HOA-maintained improvements that are not complete. Regulation 2792.16c, in a nutshell, allows a complete deferment
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