Condo insurance and flood coverage is something that is commonly either misunderstood or overlooked. So, let’s delve a little deeper and chat about this question: How does the association provide flood coverage when the value of the building exceeds the $250,000 per unit/per building limit allowed in the Residential Condominium Building Association Policy (RCBAP)? Do…
Becoming a residential property owner certainly has its appeal, but why is becoming a condo owner such an attractive thought? Unlike owning a single-family home, a condo owner is not solely responsible for maintaining every piece of the property—the yard, the pool, the structure of the building, and the interior. Typically, the condo association oversees…
One thing that’s always constant in your associations? Change. The laws governing your community associations have endured so much change within the past few years alone that it may make your community’s governing documents unreliable. It only makes sense that these documents are updated to reflect current resident needs and modern law, but where do…
One thing all Community Association’s agree on is that governing documents are the structural backbone of your community’s identity and how it operates. Much like the layout of a store, these governing documents are established as soon as the developer completes construction. Though the store is empty, a layout is predicted to serve and protect…