In the quest to address the current housing crisis, homebuilders are facing substantial hurdles that hinder their ability to meet the rising demand for new homes. Despite the expectation that new construction would alleviate the shortage and stabilize home prices, builders are grappling with their own set of challenges that are stalling their progress.
Budgeting is a critical aspect of managing a homeowner’s association. It helps ensure that the community’s financial needs are met while maintaining financial stability. However, some common budget mistakes can hinder the smooth operation of an HOA. One such mistake is borrowing from reserves. In this blog, we will discuss the potential pitfalls of borrowing from reserves and explore the legal implications of this practice.
In the state of California, it’s no secret that we face a dynamic and challenging insurance landscape. Insurance has become a hot topic, with community associations, condominium developments, and homeowners’ associations facing increasing challenges in securing adequate coverage and the limited number of providers in the state.
Inflation is a persistent issue that wreaks havoc on the financial health of community associations. From project delays to regular assessment increases and impact on reserve funds, the effects of inflation can be far-reaching and challenging to manage. Community association boards must be proactive in mitigating the impact of inflation to ensure that they can continue to provide necessary services to their members while also planning for future capital projects.
We were approached by a developer who had been working with three different consultants for 18 exasperating months, to obtain a Public Report on a
One of our clients, who had owned a “shelf” (rental) Condominium project for several years, decided to renew the existing Public Report and sell all
A Homeowners Association (HOA) Reserve Study is an important tool that helps an HOA plan and manage its assets, maintain its financial health, and ensure
If you are a homeowner in a community with a homeowners association, you may have come across the term “Reserve Study” at board meetings or
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
You have a new project and you’re ready to get going! You’re just not sure the best course of action to take? Many questions may
If you have questions, we’d love to hear from you!
