I receive a lot of questions about assessment collections from owners who are in delinquency with their assessment payments. A lot of people do not understand the extent of the rights of the association if they do not pay. It’s not like a mortgage where an owner whose home is foreclosed then can expect no [...]
Condo Law & HOA Law for Boards & Owners
Tag Archive: FINANCIAL REPORTS
Is the Generalized Inadequacy of Saving $$ for HOAs Incredulous? Or What?
Studies in California show that most HOA and Condo associations in the State are seriously underfunded in reserves (savings for replacement of major components like roofs, siding, etc.), with 60% or less in funding (savings) of what the reserve studies say should be set aside at any given time. It is no secret that many [...]
-
-
-
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.