On this topic, the law is different for condominium associations and home owner associations. Ohio Revised Code 5311.09 requires condominium owners to provide contact information regarding both themselves and tenants of the condominium to the board. Specifically, the statute requires owners to report the following information: The owner’s physical...
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FHA Update for Condominium Associations and Unit Owners Nicholas J. Meinert, Esq.
HUD has issued new FHA Condominium Approval Rules that will become effective for all applications filed on or after October 15, 2019. Previously, each condominium association was required to be FHA certified, before any unit could be purchased or refinanced using an FHA insured mortgage. As of October 15th,...
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How to evaluate service provided by contractors By: Shannon M. McCormick, Esq.
One of the common issues that boards deal with is whether a contractor is providing adequate service. Before passing judgment on the service being provided by a contractor, the board should be aware of the exact specifications the contract requires. For example, if the board is unhappy that their...
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Safeguarding Association Reserve Funds over $250,000.00 By Julie A. Perkins, Esq.
Since the passage of the Ohio Condominium Act in 2004 and the Ohio Planned Community Act in 2010, Ohio’s community associations have been building reserve funds to repair and replace major capital items without the need for special assessments. Fortunately, many associations have built substantial reserve funds and are...