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Reserve fund requirements for Canadian condominiums and stratas

Condo Control

Not only is it easy to get to, but condominium units were plentiful and very affordable. While there are some exceptions to reserve fund requirements, most condominiums are required to have studies completed by a professional at least once every 5 years. Florida has historically been considered an ideal state to purchase a winter home.

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Regulatory compliance in condo/HOA management: Navigating evolving laws

Condo Control

A good example is the set of laws passed by the state of Florida following the Surfside condominium collapse. State/provincial laws and Acts come next, followed by governing documents. Some states and provinces like Florida, California, Michigan, Ontario and Alberta have extensive laws for governed communities to follow.

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New Florida laws for summer 2025: Is your condo impacted?

Condo Control

Although summer is a great time for a bit of rest and relaxation, Florida condominiums have some work ahead of them. Note that this bill is directed at condominium and cooperative associations. House Bill 913 , also known as the 2025 Reform Bill, came into effect July 1. The location must be provided in the association’s bylaws.

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

HOA Managememt

No specific federal law governs collection practices specifically for HOA communities. Most debt collection practices are governed by state law, and your specific homeowner’s associations governing documents tackle the process. In a nutshell, this law governs how these agencies should collect debt and unpaid dues.

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Co-ops vs. Condos Explained: Pros, Cons, and Key Differences

Bay Property Management Group

In the meantime, a condominium (condo), tends to be closer to what most people think about when they imagine real estate ownership. Legally, corporate law, as well as and the co-op’s proprietary lease and bylaws, govern co-op ownership. What is a Condo? When you buy a condo, you’re buying an individual unit in a building.

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Is being ethical part of a board member’s responsibilities?

Condo Control

Fiduciary relationships are governed by the statutory standards that require directors to exercise due care and undivided loyalty for the interests of the community. Courts have recognized that board members owe a fiduciary duty to their members, demonstrating the seriousness of these volunteer positions. Will it really make a difference?

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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. Key Deadlines: SB326 Deadline: January 1, 2025 Applies to all multifamily residential buildings (3+ units) governed by an HOA. SB721 Deadline: January 1, 2026 Targets multifamily buildings with 3+ units not governed by an HOA.