Inman & Strickler, PLC

Blog Authors

Latest from Inman & Strickler, PLC

Many Association governing documents require an annual audit.  In order for an audit to be meaningful in the Community Association context it must be performed by an independent certified public accountant. The only way to fulfill the requirements is to hire a CPA who is not a member of the Board or even an owner in the community.  While your documents may specifically require an audit, you need to be aware that a CPA can…
We have published on this topic in the past, but due to frequent misunderstanding of the process we want to provide more information on this topic. Most community association boards of directors realize the importance of, and requirement for, holding open meetings. There are times however when closed sessions of the board are needed. Fortunately in Virginia the statutes for both homeowners associations and condominium associations are very specific as to when closed meetings can…
In the midst of this electoral season, perhaps it is especially timely to discuss sign regulation in communities, particularly as it relates to political signs. You may be getting questions or comments about sign regulation in your communities, so we thought it would be a good idea to let you know what goes, and what does not, in community associations with regard to political signs. There are those that will assume that there is no…
We are often asked by Boards of Directors to assist them in determining the maintenance, repair and replacement responsibilities for certain components in their Association when the provisions in their governing documents are ambiguous about such responsibilities or are absent altogether. First we need to distinguish the difference between ownership of common elements in a condominium association and ownership of common areas in a homeowners association.  In a condominium association each unit is owned individually…
A couple of months ago we informed you of major changes coming to resale disclosure requirements and the fees that can be charged for preparing those disclosures.  Those changes went into effect on July 1, 2018 and we wanted to remind you that you must now be complying with those changes. Every homeowners association disclosure for both initial sales by the developer and resales is required to include a form developed by the Common Interest…
Like any other business, community associations are often faced with delinquent owners seeking bankruptcy protection. In fact, as of May 2018, over 9,800 bankruptcies have been filed in Virginia alone.  As such, community associations should be aware of the implications of being an unwilling bankruptcy creditor.   Types of Bankruptcies   The two most common types of bankruptcy that impact community associations are a Chapter 7 and a Chapter 13. Chapter 7:  Liquidation   The…
It seems like we have to say this every year, but the Virginia General Assembly was very busy again this session making amendments to the content and fee structures for condominium and homeowner association disclosure requirements.  These changes are significant so we wanted to give association boards and managers time to prepare before these changes go into effect on July 1, 2018. House Bill 923 focused first on the disclosure form provided by the Common…
Question: I live in a townhouse style condominium that is comprised primarily of young families and, consequently, we have quite a few dogs in the community. Our recorded Condominium Declaration states: “No more than two (2) pets shall be maintained per Unit.  The Board of Directors may promulgate additional rules and regulations regarding pets.” Our Board of Directors has passed a board resolution changing the number of pets allowed per unit from two (2) pets…
If you own a single family home and your roof needs to be replaced, you either have to take money from savings or borrow the funds to pay for it.  Either way, it’s your sole responsibility to replace your roof.  But what if you own a condominium unit and the roof of your building needs to be replaced or the streets need to be repaved? What if you live in a homeowners association and the…
The American Heritage Dictionary defines “fidelity” as “faithfulness to obligations, duties, or observances,” but what does fidelity mean to your association and why do you need fidelity insurance?  Every association collecting assessments has one or more persons handling the financial obligations of the Association (collecting and depositing assessments and paying invoices).  Every board member, management company employee or other individual handling an association’s funds has a fiduciary responsibility to handle those funds in a way…