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.
Aging condominium buildings and infrastructure has been a growing concern over the past year, following the tragic partial building collapse at Champlain Towers South Condominium Association in Surfside, Fla., in June 2021. Learn more about condo safety legislation, laws, and regulations, and how CAI is advocating for sensible public policy.
Federal legislation was introduced earlier this week to provide condominium associations access to insured building rehabilitation loans—a move that would help board members make critical structural and safety-based condo repairs.
Community associations across the country have begun to fight back against the corporate investors who have changed the nature of the communities.