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Maryland House Bill 107, also known as HB107, is a Maryland state law passed in 2022 that mandates that condominiums, housing associations, cooperatives, and homeowner associations complete a reserve study by October 1, 2023. [1]
A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents.
The term neighborhood association is sometimes incorrectly used instead of homeowners association. But neighborhood associations are not homeowners associations - groups of property owners with the legal authority to enforce rules and regulations that focus on restrictions and building and safety issues.
The common ground and lakes within our community were platted to the Water Management District. The HOA uses the land that was platted to the Water Management District for a few social events each ...
If you’re unhappy with an HOA’s bylaws, members have options under North Carolina law for changing them. Your HOA can require up to 67% of all property owners to vote in favor of a change, and ...
A reserve study is a long-term capital budget planning tool which identifies the current status of the reserve fund and a stable and equitable funding plan to offset ongoing deterioration, resulting in sufficient funds when those anticipated major common area expenditures actually occur.
Increases in homeowners-insurance costs mean that homeowners association fees are on the rise as well. Homeowners may face large one-time special assessments in addition to increases in regular ...
Association management is a distinct field of management because of the unique environment of associations. Associations are unique in that the "owners" are dues-paying members. Members also govern their association through an elected board or other governing body, along with association committees, commissions, task forces, councils and other ...