Preparing an annual budget is essential for the financial stability of community associations. However, not all associations know how to effectively create an association budget. To help you with this task, here are some guidelines that will make preparing your budget a straightforward process: Create a Budgeting Committee: While it’s the board’s responsibility to create the budget, assembling a committee…
Read More →
Community Associations play a vital role in managing and maintaining the shared assets of their members. However, ensuring the safety and longevity of these properties requires meticulous planning and budgeting. In response to the tragic incident at Champlain Towers South, the Community Associations Institute (CAI) has taken decisive steps to promote safer and financially sound buildings. CAI’s newly released Reserve…
Read More →
FEMA is a federal program that assists homeowners and municipalities with recovering from disasters. FEMA funds are available for restoration of a single family home in the event of a disaster when insurance proceeds are exhausted or the damage was not insured. FEMA funds may be used for roof repair, HVAC repair, electrical box repair, entry and egress restoration, etc.…
Read More →
Michigan is now the 23rd state with a law that bars racial discrimination to include discrimination based on hair texture and hairstyles such as braids, locks and twists. Senate Bill 90, also known as the Creating a Respectful and Open World for Natural Hair or CROWN Act updates the definition of race in the state’s Elliott-Larsen Civil Rights Act to…
Read More →
A necessary component of running a functional condo association is the collection of delinquent maintenance assessments. While many condo associations can yield account resolution through a demand letter and/or recording a lien against the unit, some delinquent accounts may require the initiation of foreclosure, which is provided for by Michigan Condominium Act, MCL 559.101, et seq. Foreclosure can be a…
Read More →
Homeowners Association May Be Liable to Adjoining Lot Owners for Failing to Maintain Seawall and Water Channel
Read More →
