Many clients and associations in general (both condos and HOAs) are in possession of properties that do not have “clear title.” This puts the association in the position of wanting to rent out the property until the lender forecloses. One question we hear often is what protections, if any, exist for a tenant who signs…
Tag Archive: condominium
Fixing Improper Board Decisions
It’s important to make sure your association’s board of directors makes decisions following proper procedure. But what do you do if your board doesn’t? There are several ways to validate board decisions after the fact. The way to fix an improper board action depends on what kind of mistake was made. Here are some possibilities….
Carbon Monoxide Detectors
Condominium associations homeowners need to be aware of Washington’s carbon monoxide alarm law! Although the law was passed in 2009, it requires that all buildings classified as residential occupancies (which includes condominiums) be equipped with carbon monoxide detectors by January 1, 2013. See RCW 19.27.530 for the full text of the law. A carbon monoxide…
What’s in Your Governing Documents?
Washington law contains numerous provisions containing restrictions and requirements on COAs and HOAs. In many cases, however, the law contains a minimum requirement only and defers to the more specific provisions of the governing documents. For a primer on governing documents and their interplay with the law, please read our Governing Documents post. The law…
Resale Certificates
A resale certificate is a document that a unit owner must provide to the purchaser before they can sell their condominium unit. Any unit owner who wishes to sell his or her unit needs to be aware of the resale certificate requirements. These requirements apply to all Washington condominiums. The resale certificate must contain certain…
Adopting a Budget
Many condominium and homeowners’ associations are preparing their annual budgets this time of year. Association members, as well as the association’s board of directors, need to be aware of the laws applicable to community association budgets. A budget is an estimate of the future financial needs of the association. A budget needs to provide for…
Bank of America Foreclosures in Washington State
For many months, we’ve seen that Bank of America foreclosures have been completely stalled. There are a number of reasons for this, not the least of which is the fact that BOA took over a multitude of sub-prime loans when Countrywide went belly-up. More recently, however, the company BOA used (Recontrust) to conduct its foreclosure…
Reserves for Mixed Use Building & Limited Common Elements
Often condo declarations state that some building components are to be paid for exclusively by one group of owners. This may include all residential owners, or all owners within a single building. This means that reserve contributions for those components must come only from the units to which the cost is allocated. We frequently see reserve…
Reserve Study Law Changes
Effective January 1, 2012, changes in Washington’s reserve study laws will go into effect. These changes, among other things, affect the content of reserve studies, add reserve study reporting requirements to the budget summary associations must provide to owners, and extend reserve study requirements to HOAs with “significant assets.” Over the next few weeks, we…
Change in Resale Certificate Law
Whenever a condominium unit is sold in Washington State, a resale certificate must be prepared disclosing a long list of information which you will find in RCW 64.34.425. The required facts include (but are not limited to) information regarding the amount of the monthly assessments, any upcoming special assessments, the association’s annual financial statement, and…
Tag Archive: condominium
Tenants in Foreclosed Properties
Many clients and associations in general (both condos and HOAs) are in possession of properties that do not have “clear title.” This puts the association in the position of wanting to rent out the property until the lender forecloses. One question we hear often is what protections, if any, exist for a tenant who signs…
Fixing Improper Board Decisions
It’s important to make sure your association’s board of directors makes decisions following proper procedure. But what do you do if your board doesn’t? There are several ways to validate board decisions after the fact. The way to fix an improper board action depends on what kind of mistake was made. Here are some possibilities….
Carbon Monoxide Detectors
Condominium associations homeowners need to be aware of Washington’s carbon monoxide alarm law! Although the law was passed in 2009, it requires that all buildings classified as residential occupancies (which includes condominiums) be equipped with carbon monoxide detectors by January 1, 2013. See RCW 19.27.530 for the full text of the law. A carbon monoxide…
What’s in Your Governing Documents?
Washington law contains numerous provisions containing restrictions and requirements on COAs and HOAs. In many cases, however, the law contains a minimum requirement only and defers to the more specific provisions of the governing documents. For a primer on governing documents and their interplay with the law, please read our Governing Documents post. The law…
Resale Certificates
A resale certificate is a document that a unit owner must provide to the purchaser before they can sell their condominium unit. Any unit owner who wishes to sell his or her unit needs to be aware of the resale certificate requirements. These requirements apply to all Washington condominiums. The resale certificate must contain certain…
Adopting a Budget
Many condominium and homeowners’ associations are preparing their annual budgets this time of year. Association members, as well as the association’s board of directors, need to be aware of the laws applicable to community association budgets. A budget is an estimate of the future financial needs of the association. A budget needs to provide for…
Bank of America Foreclosures in Washington State
For many months, we’ve seen that Bank of America foreclosures have been completely stalled. There are a number of reasons for this, not the least of which is the fact that BOA took over a multitude of sub-prime loans when Countrywide went belly-up. More recently, however, the company BOA used (Recontrust) to conduct its foreclosure…
Reserves for Mixed Use Building & Limited Common Elements
Often condo declarations state that some building components are to be paid for exclusively by one group of owners. This may include all residential owners, or all owners within a single building. This means that reserve contributions for those components must come only from the units to which the cost is allocated. We frequently see reserve…
Reserve Study Law Changes
Effective January 1, 2012, changes in Washington’s reserve study laws will go into effect. These changes, among other things, affect the content of reserve studies, add reserve study reporting requirements to the budget summary associations must provide to owners, and extend reserve study requirements to HOAs with “significant assets.” Over the next few weeks, we…
Change in Resale Certificate Law
Whenever a condominium unit is sold in Washington State, a resale certificate must be prepared disclosing a long list of information which you will find in RCW 64.34.425. The required facts include (but are not limited to) information regarding the amount of the monthly assessments, any upcoming special assessments, the association’s annual financial statement, and…