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Finding the Perfect Multifamily Property

American Apartment Owners Association

Multifamily refers to properties, such as apartment complexes, condominiums, townhouses, semi-detached units and duplexes, all of which offer multiple spaces for rent. Are you taking that big step and purchasing your first multifamily property? Or are you an old pro adding another investment property to your real estate portfolio?

Property 200
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Are Your Properties Compliant with Law and Code Enforcement

American Apartment Owners Association

The deadline for SB 326, which applies to condominiums and HOA-managed properties, has officially passed. If your association hasnt yet completed inspections, you are now out of compliance, potentially exposing yourself to serious liability and fines. It is imperative to act quickly to ensure safety and compliance.

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Florida HOA Laws 2024: Updates And Changes

HOA Managememt

Board members and community managers alike have a duty to ensure legal compliance. These bills affect both homeowners associations and condominium associations. They must also complete a state-approved condominium education course. HB 1021 For Condominium Associations Governor DeSantis signed HB 1021 into law on June 14, 2024.

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HOA Collection Laws In The U.S. (50 States) For Fair Debt Collection

HOA Managememt

Here are some of the homeowners and condo association collection laws to take note of per state: Alabama In Alabama, community associations need to follow the Uniform Condominium Act (Alabama Code 35-8A-316) and the Homeowners Association Act (Alabama Code 35-20-12) for debt collection. It applies to third-party debt collectors. Code Ann.

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AI In HOAs: Is It Good For The Industry?

HOA Managememt

AI can also assist in ensuring compliance with legal requirements and regulations. For instance, condominiums in Florida must maintain a reserve fund. Legal Assistance Communities can also use AI to provide legal assistance by analyzing legal documents, identifying potential issues, and ensuring compliance with state and federal laws.

IT 130
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Condo and strata chargebacks

Condo Control

A condominium or strata may charge costs that it sustained because of an owner’s actions or omissions back to them through common expense fees. In Ontario, the Condominium Act explains when condo corporations can charge back costs to the common expenses of an owner. What are chargebacks? 133 of the Strata Property Act.

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HOA Reserve Study Requirements By State

HOA Managememt

HOA Reserve Study Requirements by State A reserve study is an integral tool for any homeowners or condominium association. The condominium disclosure statement must also include the most recent reserve study, as per Section 81-409. There are 13 states that require a reserve study or a reserve schedule for condo associations.