If an association installs a charging station meant to be shared, it may need to create rules or regulations governing access to it. Rules could include things like who can use charging stations, when, and for how long.
California’s “balcony bill,” SB 721, requires balcony inspections within all multifamily residential buildings containing three or more dwelling units no later than Jan. 1, 2025. David Swedelson, founding senior partner at Swedelson Gottlieb firm, provides details to help communities prepare for and transition to these new requirements.
In July, Fannie Mae and Freddie Mac released updates to project eligibility standards for condominiums and housing cooperatives. It is critically important for condominium and housing cooperative projects to have access to loans that will meet Fannie Mae and Freddie Mac qualifications. CAI continues to provide specific feedback regarding the requirements.
The past few weeks have brought multiple natural disasters to several parts of the U.S. Last week, tropical storm Hilary’s unprecedented landfall brought powerful winds and heavy rains, reminding community association leaders to evaluate their disaster preparations.
Community associations need to prepare for electric vehicles as more drivers bring them home and expect to plug in. Board members and managers can plan to either provide charging stations as an amenity or offer residents guidelines to install their own.
Fannie Mae and Freddie Mac are compiling troubling blacklists that prohibit mortgage financing for entire condominium or housing cooperative buildings. As the blacklists grow, community managers and board members have no knowledge their buildings are on them. When people are unable to buy and sell units in these buildings, property values may be affected.