As electric vehicle adoption continues to rise in the U.S., community associations must prepare to accommodate the trend by considering plans for paying for, servicing, and administering stations, as well as safety and logistical factors.
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.
More than 90% of respondents in a recent survey conducted by the Foundation for Community Association Research reported that their property and casualty insurance premium had increased at the last or current renewal with 24% citing an increase between $101 and $500, and 14% citing a larger increase. Eleven percent of respondents indicated that their property and casualty coverage was canceled or not renewed.
Whipping up a plan to recruit, educate, and retain volunteers is a delicate mix that includes patience, flexibility, solid coaching, and listening skills—plus a dash of strong commitment to community.
Community associations are designed to maintain common areas, preserve and protect property values, provide services for members, and develop a sense of community. Mental health issues could affect each of those responsibilities. Board members and community managers need to have a plan in place.
Much like local, state, and federal governments collect taxes to fund public services and programs, assessments are part of living in a community association. Homeowners have a responsibility to pay their assessments on time. Unfortunately, some owners refuse to pay or can’t pay assessments. What does that mean for the community? And how should board members respond?
