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Coronavirus Introduces New Legal Considerations for Common-Interest Communities
The novel coronavirus compelled communities to confront a number of new challenges with legal implications. The overarching challenge has been for an association to figure out its role in a completely new type of environment.
SBA’s Paycheck Protection Program: Coronavirus Relief Act Offers Loans to Management Companies, Others
Management companies and other vendors hit hard by the coronavirus may have some relief headed their way. On Friday, April 3, 2020, the application process opens for the Small Business Administrations’ Paycheck Protection Program (“PPP”). This $350 billion emergency program is part of the federal government’s $2 trillion federal coronavirus relief package, officially known as the CARES Act.
LAC End of Legislative Session Report 2020
Washington’s 2020 Legislative Session ended on March 12. The Washington State Chapter of Community Associations Institute (WSCAI) had a very successful year. The bills described below and outcomes noted are a small snapshot of the hundreds of hours of work by WSCAI’s Legislative Action Committee (LAC) and the Chapter’s professional lobbyists to advance the interests of homeowners living in community associations in Washington State.
Coronavirus & Community Associations
In Washington State, at least 19 people in King and Snohomish counties had been diagnosed with COVID-19 (as of noon Monday), and 9 people have died. CAI is monitoring the outbreak of the COVID-19 coronavirus and its impact on community associations on a national level, while WSCAI is monitoring on the local level.
The Best 4 Financial Reports For HOAs & Condo Communities
I hear it all the time, the board gets a stack of paper reports but doesn’t look at them. The reason why? I suspect information overload and not knowing what to look for in each report. It can be overwhelming for a community board member that isn’t used to looking at financial reports.
Practical Tips for Delinquent Account Reconciliation
Anyone who has worked in the community association industry knows that not all owners pay their assessments in a timely manner. Sometimes, boards need the assistance of a lawyer to collect delinquent amounts. But when the file is ready to be closed, what if the amounts recovered by the law firm do not match the management company’s ledger?
Hitting a Moving Target: How to Stay on Budget this Fiscal Year
Year after year, many associations struggle with the same concern: staying on budget. While there are certainly times where unforeseen expenses arise that send your budget into a tail spin no matter how proactive you were, there are a few steps your association can take to help your budget stay in the black by the end of the year.
Commonly Ignored Best Practices of Commercial Landscape Maintenance
How you care for your plants makes all the difference in the lifespan and overall look of them. Written by Tim Hawkins, this blog article discussed often ignored/overlooked best practice tips for commercial landscape maintenance.
Washington State Legislative Update
Washington State 2018 Legislative Update: WSCAI’s Legislative Action Committee (LAC) provides a Summary of the 2018 WA State Legislative Session, impacts on community associations, and what to expect in 2019.
Federal Tax Law Changes in 2018 for Community Associations
Qualifying residential homeowners and condominium associations have the unique option in Federal taxation to file one of two tax forms. (This discussion does not include nonresidential, timeshare, cooperatives, commercial or exempt associations).
Let’s Play 20 Questions: Taxes and Audits
One thing is certain for community associations: An annual federal tax return. Another thing MAY be certain: an annual Certified Public Accountant (CPA) audit. If this is surprising to you, read on. If this is not surprising to you, read on anyway; as community associations are so unique in their tax treatment!
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