What the new Fannie Mae and Freddie Mac condo rules mean for buyers and boards

You’re moving! That means an exciting new beginning. It also means a lot of work. But no need to stress out – following a simple checklist can prevent those moving migraines.

One thing you’ll want to keep in mind: starting as soon as possible is the best policy. Good planning early on will save you some real heartache later. And though we’ve created a timeline that starts at two months out, your home closing may happen in as little as 45 days – just be sure to start the first items on the checklist as soon as you possibly can.
 

You've gone from a fully functioning homeowners association (HOA) board to a leadership group with a gaping vacancy. This hampers productivity, causes confusion, and at its worst, may create worry amongst your association members.

But not to fret. HOA Board turnover happens. And if managed correctly, you can fill the opening and get back to business in short order. Below are some tips to help you through the process of filling an HOA Board vacancy.

Before deciding that pet amenities are right for your community, find out if your residents even want them. How many residents actually have pets? Will most residents be willing to appropriate space and money for these amenities? Depending on your unique needs, constraints, and level of interest, here are five suggestions for making your community more pet-friendly.

The sharing economy continues to grow, and this, in turn, is fueling the proliferation of home-sharing websites like Airbnb, VRBO and HomeAway.  In our previous article on this growing trend, we discussed how the interest in short-term rentals is impacting multi-family buildings throughout the U.S. and Canada.  Now we’re back with a game plan to help your condo board or strata council protect its interests. 

When you purchase a home or unit within a deed-restricted community or building, your new residence comes complete with an added bonus – membership in your association.  Whether your association is an HOA, community association or condo association, it’s comprised of fellow homeowners and stakeholders who, like you, want to protect the community’s property values, enhance its quality of life and make it a desirable place to live, both now and in the future.But an association can’t achieve these goals without homeowner involvement – after all, how can you have a say in what happens in your community if you don’t participate?

While it’s always best that all parties in an HOA, community association, condo association or other deed-restricted community agree and cooperate, it’s a fact of life that conflicts or disputes may arise.  In many cases, the parties can settle their differences amicably and directly through frank and open discussion or negotiation. In other instances you may need mediation or arbitration to find a resolution.

Neighborhood Watch programs can provide significant benefits to communities – after all, they boost community awareness, communication and involvement, while reducing opportunities for neighborhood crimes to occur.  But if you’re interested in getting started, there are many important factors to consider.  Here’s an overview.

Have you ever considered joining an HOA, condo, cooperative or community association committee?  If so, you may want to delve deeper into the possibilities – after all, being part of a committee can be a valuable experience in many ways. You can share your expertise, learn about an issue affecting your building or community and gain governance experience – a boon if you’d like to become a community leader.  In addition, you can work collaboratively with a team, conduct research, meet with subject matter experts, get to know your neighbors and make a difference for your fellow homeowners.

Your front desk staff is the “face” of your building – the first point of contact for homeowners and guests.  As a result, each members plays a crucial role in creating your building’s image, as well as shaping the perceptions and experiences of everyone who enters.  Consequently, when a resident or visitor walks through the front door – whether it’s their first time or hundredth – the reception and greeting they receive and the way they are treated can significantly impact their entire experience.

The Internet is exploding with social networking sites and websites designed to educate and connect people, whether they’re across the street or across the globe. Strong networks create safer communities and more rewarding living experiences, but with our busy schedules and time constraints, it’s not always easy to become acclimated and involved. Fortunately, there are websites and online tools expressly designed for this purpose – facilitating everything from helping you obtain community information, discover local businesses, organizations and service providers, build connections and friendships with neighbors, become active in your local community and much more.  We’ve provided an overview to get you started.

Is installing EV charging stations the right choice for your community?  If your association is considering it, consider this – you’ll not only satisfy the needs of current and future EV owners, but you’ll also enhance your property’s “green” image, which can increase property value and attract future residents.

So how should your Board proceed?  Start by talking to other community Board members and local community leaders to see if this issue is being addressed locally.  Do your research, including consulting with a good property management company.  If your community is professionally managed, your property management team can provide you with information and guide you through the process.

Over the past five years, nearly a half-million U.S. cars in this country have been able to zip right past gas stations – and it’s not because they’ve always had a full tank of gas. That’s how many plug-in electric vehicles (PEVs) have been purchased in this country since December 2010, when the first mass-market PEVs – the Nissan Leaf and Chevy Volt – made their much-heralded debut. Learn more about PEV's in order to ready your HOA.