Earlier this year, Fannie Mae and Freddie Mac announced important changes to condominium reserve funding requirements. Management companies and condo boards nationwide need to take the changes seriously and act now.
CAI’s condo safety task force was formed after the Champlain Towers tragedy in 2021. Five years later, a member of the task force reflects on the progress made to improve maintenance, inspections, and financial accountability in community associations.
This week, the National Institute of Standards and Technology released its long-awaited findings on the partial collapse of Champlain Towers South in Surfside, Fla. We’ve learned a lot of lessons from Surfside over the past five years. CAI honors the victims and remains committed to condominium safety.
Community association board members are responsible for governance, compliance, and protecting property values. Few homeowners joining their board for the first time have all the tools to succeed, and the consequences of uninformed decisions can be severe. The question of whether board member education and training should be mandated for volunteers is nearly as old as common interest communities.
As we mark the third anniversary of the Champlain Towers South tragedy in Surfside, Fla., CAI honors the memory of the victims and reiterates its commitment to promoting safety and resilience within community associations. CAI remains dedicated to providing education, resources, and support to community associations to protect the lives, well-being, and investments of all community residents.
