Are owners in your condominium having trouble selling or re-financing their units? If so, it may be due to the condominium property being blocked by Fannie Mae for not meeting its lending criteria. Fannie Mae does not make loans, but it does purchase and guarantee them in the secondary market, which reduces risks to banks, […]
Is your Condominium on the Fannie Mae Blacklist? Read More »
In Ohio, any pool serving more than three residential dwellings is considered a “public pool,” which means that nearly every condominium and homeowners association pool is classified as “public” despite its private ownership and access. This means that your community pool falls under the regulations outlined in the Ohio Health Code. Apart from chemical monitoring
Your Community Pool May Require Lifeguards By: Nicholas J. Meinert, Esq. Read More »
The recent changes to Ohio’s sports gambling laws, which took effect on January 1, 2023, have prompted many board members to inquire about the possibility of community associations holding bingo game or raffles. In short, the laws related to bingo and raffles remains the same. Only charitable corporations may conduct such gambling events. As we
Don’t Gamble with Your Community’s Well-Being By: Nicholas J. Meinert, Esq. Read More »
Have your association’s contractors ever complained to the board about residents interfering with their ability to perform their work? Have you heard stories of residents scolding your snow removal provider for not doing their job properly this last winter? With spring clean-up season right around the corner and large landscaping projects, as well as routine
Community association boards execute contracts on the association’s behalf with various types of contractors to maintain, repair, and replace their associations’ common elements. Project specific contracts involve a contractor completing a particular project, for example, replacing the roof of a building. Project specific contracts should always include a start date and completion date requirement. Service
Prevent Automatic Contract Renewals in Service Contracts, By: Nicholas J. Meinert, Esq. Read More »
In response to the tragedy at the Surfside condominium in Florida, Federal mortgagees are starting to update their questionnaires that are required to be completed in conjunction with the financing of a condominium unit sale. These changes include questions about the current status and condition of the property that are difficult to answer, along with
Fraud Alert: Mortgagee Questionnaire Scams, By: Nicholas J. Meinert, Esq. Read More »
On September 12, 2019, our office published a blog explaining the new FHA Condominium Approval Rules that became effective on October 15, 2019, which includes the single-unit approval process. The purpose of these new rules was to create more opportunity for individual condominium owners to obtain FHA insured mortgages. As many condominium associations are learning,
Updated Condominium FHA Approval Rules By Nicholas J. Meinert, Esq. Read More »
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, owners within condominium associations will be
FHA Update for Condominium Associations and Unit Owners Nicholas J. Meinert, Esq. Read More »
Most community associations utilize independent contractors to service their property. A general example of an independent contractor is an association’s landscaper who uses its own machinery, works on other properties, and is paid in lump sums. However, some associations hire employees who only work for the association, are paid by the hour, and are subject
You’re Fired – Terminating Contractors Versus Employees By: Nicholas J. Meinert, Esq. Read More »
The Ohio Condominium Act and Ohio Planned Community Act both require that associations “collect assessments for common expenses” from the owners. Annual assessments, monthly assessments, special assessments, and enforcements assessments are all legally referred to as assessments. Despite this statutory assessment authority, many associations still improperly refer to their assessments as “maintenance fees” or “dues.”
Owners Pay Assessments – Not Maintenance Fees or Dues! By: Nick Meinert Read More »
