Enhancing Community Safety and Financial Planning: New Reserve Study Standards 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
What your Condo Association Needs to Know About the New Fannie Mae and Freddie Mac Lending Guidelines The Surfside condominium collapse led to significant reform in the condominium lending industry. In Lender Letter LL-2021-14, Fannie Mae and Freddie Mac implemented temporary lending guidelines in
In Residents of Fresh Air Park Sub v Pointe Rosa Homeowners Assoc, unpublished per curiam opinion of the Court of Appeals, issued September 22, 2021 (Docket No. 355011), the Michigan Court of Appeals dealt with a situation where adjoining property owners sued a homeowners
The Surfside condominium collapse was devastating for the condominium community and served as a wake-up call for many condominium associations. Since the Surfside condominium collapse, co-owners in Florida and Wisconsin have been forced to evacuate condominiums as a result of unsafe structural conditions. As previously
It is not uncommon for condominiums and homeowners associations that are located within close proximity to each other to be part of a master homeowners association. Community associations that share and utilize certain property and resources generally are organized in one of two frameworks: (1)
The Surfside condominium collapse is one of the most unspeakable tragedies in condominium history. As investigators continue to search for the cause or causes of the collapse, it is natural to search for solutions on how future building collapses or other disasters can be prevented.
