Caught in the Crosshairs – The HOA and Condo Owners Rental and Sales Conundrum Can owners in an HOA or Condo Association move to cheaper digs and save their homes by renting to others? Can they sell, even if willing to take a hit on the price? Many people are looking for solutions and ways [...]
Condo Law & HOA Law for Boards & Owners
Category Archives: HOA and CONDO FINANCIAL ISSUES
EMERGENCY ASSESSMENTS DON’T REQUIRE APPROVAL OF OWNERS
In California, HOA and Condo boards are limited in raising assessments without member approval. They can raise the regular assessments 20% a year and/or impose a special assessment of up to 5% of the budgeted gross expenses for a fiscal year without a vote. If a vote is needed, the requirement is majority of a quorum [...]
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I wrote the book, The Condo Owner's Answer Book to address the unique situations that come with buying and owning a condo. It also discusses your rights and responsibilities as a condo owner and a member of a homeowner's association. Includes practicial answers to more than 125 questions about condo ownership. Available now from Amazon.com.