Effective September 18, 2023, some updates were made to the eligibility criteria for condominium and cooperative projects by Fannie Mae and Freddie Mac. Known formally as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage...
From frozen pipes, broken appliance supply lines, to roof leaks and leaking drain pans, in townhome and attached condominiums, these and other sources of water intrusion can quickly wreak havoc for owners and the association if not handled properly and quickly....
The vitality of Michigan community associations is directly related to the quality of their volunteer board of directors. However, in this litigious age, potential directors may be concerned about the personal liability faced when their every decision may be...
Mold can present a real threat to the structural integrity of a building and can also be harmful to human health. This threat is amplified in attached condominiums since owners can be affected by an instance of mold originating in another co-owner's unit or the common...
A condominium association’s board of directors has a seemingly endless list of responsibilities, but one of the most important – at least in terms of its impact on the membership – is the adoption of an annual budget. In simple terms, adopting a budget requires the...
One of the primary functions of a condominium’s governing documents is to establish the respective responsibilities of the association and the co-owners for maintaining, repairing and replacing all property located within the condominium project. Often times, these...
Assessments are the means by which all associations operate, and assessments provide the necessary income to maintain and enhance a community's assets to protect and maximize unit values. When assessment levels get too high, the very assessments that are essential to...
One of the primary functions of a condominium's governing documents is to establish the respective responsibilities of the association and the co-owners for maintaining, repairing and insuring everything located within the project. During the early days of condominium...
It's a condition that affects between three and five percent of all Americans, both men and women. With an aging baby boomer generation, experts predict that the problem is only going to get worse. It’s called hoarding and for condominium associations, particularly...
When people think of Michigan's No-Fault Insurance Act ('Act'), their mind is likely drawn to thoughts of a roadside automobile accident. But what if an automobile damages subdivision common areas or condominium common elements? Under State law, drivers are required...