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Archive for the tag “Condos for rent in CT”

U.S. Home Sales Up

Source: Record Journal

WASHINGTON (AP)Americans are buying more homes in every region of the country, the latest indication that the housing market could be on the mend.

An increasing portion of those sales are from first-time buyers, who are critical to a housing recovery.  Sales of previously occupied rose 3.4 percent in April from March to a seasonally adjusted annual rate of 4.62 million, the National Association of Realtors said Tuesday.  That nearly matches January’s pace of 4.63 million – the best in two years.  It is still well below the nearly 6 million that most economists equate with healthy markets.

A pickup in hiring and cheaper mortgages, combined with lower home prices in most markets, has made home buying more attractive.  While many economists acknowledge that the market has a long way to go, most said the April sales report was encouraging.

“The trend in sales is upward, and we think it has a good deal further to go over the next months as payrolls pick up further and mortgage availability improved,”, said Ian Shepherdson, chief U.S. economist for High Frequency Economics.

Sales rose last month from March in all regions of the country.  They increased 5.1 percent rise in the Northeast, 3.5 percent in the South, 4.4 percent in the West and 1 percent in the Midwest.

And more first-time buyers entered the market.  In April, they made up 35 percent of sales.  That’s up from 32 percent in March.

“First-time homebuyers are slowly making their way back,” said Jennifer Lee, an economist at BMO Capital Markets.  “That is still below the 40 percent-to45 percent range during healthy times, but the highest measures completed sales.  A sale typically closes a month or two after a buyer signs a contract to buy a home.  But a growing number of buyers in recent months have been investors who pay cash, which speeds up the process.

For questions, concerns, assistance in Connecticut Real Estate and Homes for sale or Condominium Property Management, visit www.BarberinoRealEstate.com or call 203-269-0284 x 110

In The Swim – Decisions you need to make when considering a pool for your home

Source: William Hageman – Tribune Newspapers

A swimming pool can be the crown jewel of your property, capable of turning a bland yard into an outdoor oasis.  But before you take the plunge, it’s best to weigh the pros and cons of various pools.  Here are sone things to consider:

Categories:  Aboveground and in-ground are the two main types of pools.  Above ground pools are  less expensive, less permanent and come in a choice of sidings (resin, aluminum, steel).  There are also inflatable varieties.  These are typically do-it-yourself projects.

In-ground pools – more costly, larger and permanent – come in four basic types; vinyl liner (a linter is attached to a frame built in the excavation), aluminum (a cheaper material but not as sturdy), fiberglass (a large factory into an excavation by crane) and concrete (construction on-site to your specs and available in these, professional installation is the norm.

Is it worth your while?  A key consideration – before size, depth, shape or cost is whether you are planning to stay in your home for a while.  If confronted with a foreclosure, layoff or job transfer, there are few alternatives for relocating the pool.

“An aboveground pool is not meant to be moved, but they can be,” said Dan Harrison, president of online pool and spa retailer poolandspa.com. “They have to be taken apart carefully, boxed up and moved.  With an in-ground, you’re making a very big commitment.  If you’d asked me 10, 15 years ago, those word wouldn’t have come out of my mouth, but that’s a very big concern these days.”

Design.  Harrison said have a pool design in mind before visiting and installer.  He suggested checking out pool websites or doing an online search of pool images.

“Look at 500 images, then print out five of them that you like,” he said. “Then when you’re going to the pool store, you can tell them; this is kind of what I like.  What is so important to one person might not even be on the radar of someone else.”

The design or shape of the pool will also depend on intended use.  If you want to swim laps all day, rectangular is the way to go.  If you want to host neighborhood or family gatherings with games and splashing, consider other shapes and depths.  (Above ground pools don’t provide deep and shallow ends.)

Cost.  A soft-sided, above ground pool from a big box store can cost $200 to $800.  Harrison said.  “If you took those same types of dimensions and decided on steel or aluminum sides, you’re probably talking $2,000 to $6,000 or $7,000, depending on the quality, the pattern of the lining, things like that.”

Go in-ground and the sky’s the limit.  Custom concrete can be built to any design or shape.  “You can have bar stools in it, an island, a waterfall, all that stuff”, Harrison said.  “On in-grounds you can go $15,000 to $200,000.”

Beware of additional costs such as a deck and fence. “Somebody comes to us and said they want a $30,000 pool, they have to realize you’ll have to double that for the walkway and rock and all that, “Harrison said.  “When you’re considering and aboveground, it’s the price of the pool, put it up and there you go.  An in-ground, you’re paying tens of thousands for somebody to come in and dig up the yard.  Then you need brick work, landscaping, and the deck.  You have to think of it as a total yard make-over.  There are a lot more elements to in-ground pools.  Fencing kind of gives people a heart attack.  They figure they call the fence guy because they have an acre and a half, and he tells them it’s another $12,000.”

 

Construction.  An above ground pool can be set up in a few hours if youo have capable help and have done the necessary preparation.  Tome frames for in-ground pool can vary from one to three weeks (vinyl-lined), to two weeks (fiberglass) to up to we weeks (concrete).

Life  expectenancy.  Above ground pools can last 10 or 15 years or more; their liners will need replacement in 6 to 10 years, depending on use, care and climate.  In-ground pools have longer life spans.  A vinyl liner mat have to be replaces in 10 years; a concrete pool is durable and can last for decades.  If you live in an earthquake-prone area, fiberglass may be a better choice because it has some give.

Safety.  This is one area people overlook.  Above-ground pools, protected by gates and locks are safer when it comes to children.  In-ground pools can be made safer through technology – infrared sensors, gate alarms, locks, video cameras, etc.  But homeowners are often lax.

“If you’re in the house and there are kids and there’s a pool, you have to think every second that a kids can get in that pool,” Harrison said.  “Do most people think that way?  No, but that’s the truth.”

 

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New Federal Timelines May Speed Short Sales

 By:  Kenneth Harney; kenharney@earthlink.net

If you’re one of the estimated 11 million homeowners burdened with an underwater mortgage, a new federal policy could be good news starting in June when you want to do a short sale to shed your mortgage debt load and avoid foreclosure, you may not have to wait for months to hear back from your bank when you submit an offer from a potential purchaser.  Instead, if your loan is owned or securitized by either of the dominant conventional mortgage market players – Fannie Mae or Freddie Mac – you can expect a response within 30 business days, with a final decision no later than 60 days.  If you don’t hear back during the first 30 days, the bank will be required to send you weekly update telling you precisely where the holdups are and when they are likely to be resolved.  None of this is typical of short-sale procedures today.  Banks and servicers who don’t comply will face monetary and other penalties.

The mandatory timelines, which real estate and mortgage industry experts say should help speed up what traditionally has been a glacial process, are being imposed by the Federal Housing Finance Agency, the regulatory overseer of Fannie and Freddie in conservatorship.  Short sales represent and important alternative to foreclosure, and involve the lender or loan servicer agreeing to accept less than the full amount owed by the borrower.

Though they can be complex and messy, and can take anywhere from several months to more than a year to complete, short sales are turning into a mainstay of the real estate market.  According to a report from the foreclosure data firm RealtyTrac, short sales jumped by 33 percent in January compared with the same month the year before.  In 12 states – including California, Arizona, Colorado, Florida, New York and New Jersey – there were more shorts sales recorded during January than sales of foreclosed properties.

This trend is welcome, say regulators, but the total time required to complete short sales is still far too long,.  The 30-day and 60-day mandates address just one of the key points of delay in the process, but regulators promise a series of additional steps during the coming months designed to speed transactions.  They include clearer guidelines on borrower eligibility, property valuations, compensation for lenders holding second liens, and mortgage insurance issues.  All of these are points of friction that can delay short0sales agreement for weeks or months.

Realty agents who specialize in short sales say setting mandatory timelines is a step in the right direction, but won’t solve all the problems.  The new rules and promises of more “are great if they really happen,” said broker Erik Berry of Erik Berry and Associates in Sacramento, Calif.  Short sales that his firm handles take an average of “about six months” from start to finish on Fannie-Freddie loans.  But FHA transactions – which will not be affected by the new regulations – average much longer, and sometimes drag on for a year.

Berry also is skeptical that banks and servicers will be able to reform their staffing practices quickly enough to meet the compressed timelines – even if penalties are imposed, In some cases, he said in an interview, banks switch personnel and negotiators five or six times over the course of a short sale. “You’re dealing with one person one day and they say, don’t worry, everything’s fine, then suddenly they’re gone and you never hear from them again,” leaving the deal stalled for weeks.

Matt Battiata, whose Battiata Real Estate Group in Del Mar, Calif., handles hundreds of short sales a year, said a reliable, 60-day decision deadline for responses to offers will be helpful – 30 days better than the 90-day average he now sees from banks – but the whole process will still take longer than traditional sales.  For clients seeking to do short sales today, Battiata estimates five to six months from offer to closing.  After June, assuming the new federal rules and penalties work, the estimate might only be cut by a month.

On top of this, some of the complications inherent in short sales are beyond the control of regulators or banks, he pointed out.  For instance, buyers put in offers to purchase but then change their minds, forcing the sellers and brokers to come up with replacement offers, and the bank to reset the clock to analyze the new package.

The takeway for potential short sales:  Be aware of the new moves afoot to streamline the process but don’t expect miracles

For questions and answers on Connecticut Real Estate, Homes for sale, Leases and Condo Property Management, feel free to visit us on the web at www.BarberinoRealEstate.com or call Alan Barberino at 203-265-7534

Pending Home Sale On The Rise!

Source:  Carol Riordan www.HartfordCourant.com – HomeLife

 

Pending home sale for February were up significantly versus a year ago according to a study just released by the national Association of Realtors (NAR).

Their Pending Home Sales Index (PHSI)* showed an overall increase across the United States to an index of 96.5, a rise of 9.2 percent compared to February of 2011.  In the Northeast, the index rose 18.4 percent to 77.7.  The Midwest also posted large gains with a 19.0 percent increase to an index of 93.8.  There was an increase of 7.8 percent in the South to an index of 105.8 and a decrease in the West of 1.8 percent to an index of 99.3.

NAR Chief Economist Lawrence Yun predicted a strong buying season based on recent monthly PHSI increases.  He said, “We had a very good January, now we have a nine-percent increase in February figures.  These are implying that this buying season will be a quite decent year.”

The unseasonably warm weather has encouraged people to go out and look for properties.  Potential buyers are not just browsing, however, but shopping seriously for homes as indicated by a rise in realtor confidence.  “Realtors are looking at some of the qualitative factors,” said Yun.  “Whether or not people are returning on their open house visits; whether people are examining homes very carefully or just kicking the tires.”

Another indication of the real estate market’s recovery is declining shadow inventory which is measured by seriously delinquent mortgages and homes in foreclosure.  Shadow inventory reached a high in the last quarter of 2009, but has been steadily declining since then.  There has also been a decline in bank-owned properties and properties owned by the government through Fannie Mae, Freddie Mac and the Federal Housing Administration.  In addition, visible inventory has reached its lowest level in the five years.  “So all three buckets of potential inventory…are declining and therefore, because it’s declining consistently, it’s implying that the market is able to absorb this inventory and it’s all moving in the right direction, “said Yun.

He noted that home sales have been essentially stable since 2009 and that the recent uptick in the PHSI is noteworthy.  “If activity is sustained near present levels, existing-home sales will see their best performance in five years,” Yun said.  “Based on all of the factors in the current market, that’s what we’re expecting with sales rising seven to 10 percent in 2012.”

*The PHSI is a forward-looking indicator based on contract signings.  The data reflects contracts, but not closings.  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales.  Information about NAR is available at www.realtor.org.

Visit www.BarberinoRealEstate.com for all your Connecticut Real Estate Home Selling and Buying needs.  Specializing in Condominium Property Management in CT, Leases and Sales. Go with the pro! Alan Barberino.

The Board/Management Relationship – A Joint Effort

Source: By Hannah Fons, Manning Krull, Article Options www.NewEnglandCondo.com

ImageUnless they’re self-managed, most urban residential buildings employ

professional property managers to handle their books, bid out repair

jobs, hire contractors and deal with the day-to-day administrative

functions that few unit owners or trustees have the time (or desire) to

handle themselves. The property manager is a key player in a condo

building or HOA’s day-to-day functioning.

So how do managers and boards of trustees work together for the benefit of their building communities? As with most such relationships, it depends on the manager, the building and the expectations each has for the other. By clearly communicating roles, concerns and expectations, the management /trustee relationship can be a rewarding, functional partnership.

Put It in Writing

Every building community is different—and while certain aspects of running them are similar, there are bound to be points at which buildings differ. A good manager will adapt his or her approach to each building in his or her portfolio and find out exactly how that community wants to do things.

“Some boards like to be told every little thing,” says Mark Weisman, president of Boston’s Brownstone Real Estate, “and some don’t. Sometimes, a board will say, ‘Don’t call us unless the bill is over $500.’ Some don’t want to do anything themselves. They may not even want to take their trash out—they want us to pay the bills and keep the place clean and just send them a bill every month.”

Whatever your building’s preferences and expectations, it’s impossible for anybody to carry them out if they don’t know what those preferences and expectations are in the first place. To ensure that everybody’s on the same page, it’s wise to articulate expectations clearly and then commit them to print. In other words, put it in writing.

For example, if your trustees feel that the manager should be on-site at least one day a week to deal with building business, meet with residents and staff, and inspect the property, while the manager feels that one day every other week is adequate, clearly there will be friction unless a compromise is met. By clearly stating your expectations to your manager, then allowing them to explain their own obligations and concerns to you, working through to a mutually agreeable solution and then putting that solution in writing, the potential for misunderstanding is greatly reduced.

It’s also important to have things in writing for the benefit of non-trustee residents. If a tear sheet or informational memo is available outlining exactly when management will be on-site, whom to contact in case of an emergency and the schedules for things like trash collection and snow removal, residents will more likely adhere to house rules and regulations. Better still, they may be less likely to complain about lack of communication from trustees/management.

Another benefit of spelling out roles and expectations is that your trustees will have a ready-made checklist against which to compare your management company’s performance. Should your building ever opt to change companies, you won’t have to reinvent the wheel with the new managers. You can simply present them with a copy, so everyone understands what’s expected and there are no surprises for either party.

Reaching a joint agreement about what your building wants in a manager—and what your property manager can reasonably provide—is one of the most important elements of the trustee/manager relationship. With clearly defined expectations, both sides of the relationship can know where they stand and have a good idea of whether or not the relationship itself is working.

Your Manager Works for You

It’s sometimes easy for a group of trustees to forget that their building’s manager is really their employee—and that they, the board, are the ones charged with making the final decisions about how to run the building. Given that most trustees are volunteers, and not professionals in the real estate industry, informed input from the management is vital—but it’s just that: input. The trustees have the final word in the decisions that affect the building community.

To that end, boards and managers must both commit to an agenda for meetings—and an action plan for afterwards—and to do their part to carry out that action plan once the meeting adjourns. That means establishing deadlines for specific tasks, delegating responsibilities fairly and practically and following up to make sure everything that needs doing has been done.

When it comes to handling problems and complaints within the building, trustees and managers must determine who will receive complaints and how they will then be acted upon. Whether it’s a complaint committee, a phone hotline, or simply a designated go-to person for managing hot-button issues, the important thing is to establish a system and adhere to it consistently.

“I like to get an e-mail list going,” says Weisman, “so I can get in touch with everybody all at once. I know who the owners are, the tenants, the mortgagees.”

“You need to be on top of everything,” agrees Ed Lyon, owner of Preservation Properties in Newton. “As a manager, you need to set the pace for the agenda. You need to be one or two steps ahead of the trustees, the tenants and the boards.”

A good manager with years of experience can be invaluable when it comes to this part of building administration by divvying up assignments and helping individual trustees take on only as much as they can reasonably accomplish in the given span of time. It’s also up to the manager to check in periodically with committee members and other trustees to make sure the projects and initiatives decided upon at the meeting are coming along on schedule. While managers are working for their boards and buildings, it’s their experience and cumulative wisdom that enables even the greenest trustees to hit the ground running and conduct their community business smoothly.

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Deck it Out – The Importance of Keeping Your Deck Safe and Secure

   By Keith Loria

When you consider all the different exterior components that a condo association  has to deal with, decks are sort of like the Rodney Dangerfield of the list—they rarely get any respect.

“Decks are definitely something that people don’t pay enough attention to,” says Robert J. Burns, president of Burns Associates-Engineers in Portsmouth,  New Hampshire, which provides reserve studies and consulting engineering  services to the condominiums of New England. “They need to be cleaned, stained and they can be potential hazards if not  monitored closely.”

Many of New England’s condominium decks were built 10 to 20 years ago, and are now nearing the end  of their useful life—especially if they haven’t been maintained properly over the years. This is especially true in New  England coastal towns, where salty sea air can wreak havoc on wood.

Attractive, well-maintained deck surfaces—whether attached to individual units or part of your condo’s common areas—add to the visual and practical appeal of your building or HOA community.  Keeping those surfaces functional and safe is just as important as any other  exterior concern. There are a number of simple things your board can do to  extend the life of your association’s decks, and new materials and methods that  can help.

“It’s vital that you have a proper preventative maintenance program for any deck,” says Ed Lenzi, owner of Lenzi Construction & Remodeling, LLC, which does business in New Hampshire. “Upkeep is necessary and a smart condo association will make sure that it’s not something they only look at when there is a problem.”

Out With the Old

These days, most condos aren’t thinking about making changes to their decks, especially if nothing is visibly  wrong with them.

“In this economy, it’s rare to see an upgrade in decks unless there is no other option,” Burns says. “Most condo documents imply ‘replace in kind, treating all unit owners equally’—so upgrading some decks and not others would probably invite unhappiness of  those who were not upgraded. Plus, associations are having enough trouble  paying for what they have without upgrading.”

Even with a steady maintenance program, the best cared for decks eventually grow  old and may need to be replaced. Luckily, a host of new technologies are  available to make deck construction and future maintenance a bit easier.

Composite products such as Trex, which are made of pressure-treated softwoods or  low-end woods with preservatives on them, are heavily in demand.

Unlike traditional woods, composite decks are constructed with screw-type sink  fasteners or with blind fasteners, which are hidden pieces into which the  composite boards are attached with clips. These decks are finished off with  railings that can be coated in nearly any color, and imprinted with textures  that closely resemble the appearance of wood.

“They are variations of wood fiber recycled material combined with ground-up  wood,” Burns says. “When boards select a replacement, they usually go with Trex. While most of the  raw materials used in making Trex are recycled, these materials are carefully  processed to ensure the highest level of quality and performance.”

Treatment Time

Pressure-treated lumber needs to be allowed to dry for several months before  sealing or staining. In most cases the maintenance depends on the weather.

“If the deck is located in direct sunlight for extended periods of time or most  of the day, then the deck will dry out and crack or take a toll on the stain  and sealer,” Lenzi says. “In this case, if the deck has been stained, then you might have to re-stain it  every year and at least every two. Sealer is easier and if it is wearing off,  then you will not have chipping and flaking as you would with stain. Therefore,  you can get away with not re-sealing as often and aesthetically, you will be  okay.”

Most composites that have been installed over the past 10 years require  maintenance only once or twice a year to remove accumulated oils, pollen,  grease and mold.

“These composites require power washing and or scrubbing in the spring and fall,  especially if there is not a lot of sun exposure to the deck,” Lenzi says. “In the past two years, composites have become much better. There are now ‘capped’ composites made by Fiberon Decking, Trex and others who are quickly jumping on  board and are the best products to protect your decking from staining and  fading.”

Inspect and Report

A smart way to maintain a deck is to create rules and regulations that all must  follow.

“The association board needs to regulate what people do on the decks and what  they put out there,” Burns says. “You can get in some hazardous situations with grills getting too close to the  building.”

In the wake of several well-publicized tragedies involving deck collapses,  building codes are getting tougher—and deck inspections are now something every condo administrator needs to have  on their radar.

The North American Deck and Railing Association is dedicated to increasing  public awareness of the necessity for regular inspection and maintenance of  existing decks and proper installation of new decks.

“A professional inspection will examine every inch of your deck, provide  information on your deck’s capacity limits, identify any dangerous problem areas and give you a map of  what to keep your eye on in the future,” says Mike Beaudry, executive vice president for NADRA. “If your deck is older, this might include a regular deck inspection schedule.”

The inspection includes key areas such as ledger connections, posts and  footings, post-to-beam connections, joists and joist connections, stairs, deck  boards, handrail assemblies and guards.

“Ledgers are the number one mode of failure for decks due to inadequate fastening  to building structures by face nailing vs. lag screws and bolting, and the  connection is hidden from view,” Burns says. “Failure is sudden and typically catastrophic. Prevention is back-up lag screws  or bolts and annual inspection for signs of water entry and rot.”

Warning Signs

Some flaws to look out for include rot and structural issues. Especially in  older buildings, layers of paint or stain on a deck may be hiding water damage  or rot, making the problem worse over time. Without the right protection and  sealants, moisture and salt can do a lot to lessen the life span of a wooden  deck.

Other important things that need to be looked for include cracking, splitting,  splintering, loose nails, loose railings, twisted posts and broken balusters.

The largest causes of deck failures are construction methods used on the deck  frame. Lenzi says that many decks were constructed without using a proper post  and beam system, lags into the sill or frame of house, joist hangers, proper  cement footings and with staircases not being secured correctly.

“Our largest issue that we see that causes deck failures is (decks that are) not  properly flashed against the house,” Lenzi says. “Years ago, everyone used aluminum flashing, as this was the code. We have  learned that water is one of the most powerful and most dangerous things to our  homes. Today we use ice and water shield (a rubber membrane that used to be  solely used on roofs for ice dams) for decks and this has proven to be the best  line of defense and almost impossible to penetrate through.”

When these failures take place, the water rots out the plywood and frame of the  structure that the deck is attached to. The deck is now failing and becoming  extremely dangerous with a great potential to fall off and cause injury or even  death.

“It’s important to understand who is responsible for the maintenance of the deck or  balcony,” says Jason Brudnick, chairman of Global Insurance Network in Needham,  Massachusetts. “Once determined, make sure that either the unit owner or the condo association  is keeping the deck well maintained in order to minimize the chance of collapse  occurring.”

Insurance Issues

Deck collapses, although generally not as major as balcony collapses on mid- or  high-rise buildings, can cause injury to people and possible damage to the  building the deck is attached to.

“There is no special insurance to cover the collapse of a balcony or deck,” says Brudnick. “I can also assure you if there was a lawsuit as a result of a collapse, the  plaintiff’s attorney would name the condo as well as the unit owner.”

There are two pieces to the insurance puzzle. First is the physical structure  that collapsed. It would need to be replaced. That would be covered under the  condominium’s property coverage. Second would be any injury or third-party property damage  as a result of the collapse. That would be covered under the condominium’s general liability policy.

“If the injury or property damage went beyond the limits of the general liability  policy, there could be additional coverage under the umbrella policy,” Brudnick says. “In this scenario there is also the issue of whose responsibility it is to  maintain the deck itself, whether it is the condo’s or the unit owner’s.”

Depending on the situation and how the condo outlines the responsibilities for  the care and maintenance of the decks, the unit owners themselves could be held  responsible.

A scheduled program of inspection, maintenance and repair can prevent damage to  people, property, and the association’s finances. Those decks, do, after all, deserve some respect.

Keith Loria is a freelance writer and a frequent contributor to New England  Condominium.

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New England Condominium’s 2012 Condo Expo – Where Buildings Meet Services

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Source: www.ne-expo.com

On Tuesday, May 22, 2012 from 10:00AM to 5:00PM at the Seaport World Trade Center – Exhibit Hall 200 Seaport Blvd, Boston, MA.

With over 150 exhibitors, learn from educational seminars and take the opportunity to network on this day at one location. Discovering endless solutions imaginable for your condo, HOA or co-op complex, learning from the experts gives educational and networking opportunities.

Trusted by thousands, the New England Condo &

Apartment Management Expo is the leading real estate trade

show in New England.

 Join board members

Trustees

 Property Managers

Building Owners

Meet building service companies

Attend educational seminars and get

 your questions answered.

Click here: Register Now !

Selling or buying a home in Connecticut? Research is key to knowledge.

Selling or buying a home in Connecticut? Research is key to knowledge..

Common Interest Ownership Act

AN OUNCE OF PREVENTION

Source: Perlstein, Sandler & McCracken, LLC  

 www.CTCondoLaw.com

Adopting maintenance standards will encourage preventative maintenance and reduce the likelihood of losses.  If a unit fails to comply with a maintenance standard, he or she can be required to reimburse the association for any repair costs that are not covered by the master insurance policy.

The Benefit of Adopting Maintenance Standards

The Common Interest Ownership Act permits the association to adopt standards for the maintenance of unit owners.  By Adopting maintenance standards, the association can remind owners to address risks in units which, if overloaded, could cause damage to the community.  By engaging in preventative maintenance and addressing these risks, the unit owner reduced the likelihood of loss.

While the association can adopt maintenance standards, it may not have the power to actively require owners to abide by them.  Active enforcement may require an amendment to the declaration or bylaws of the association, depending on when the community was created.

Nevertheless, Subsection 47-257 (e) of the Act provides that if the association incurs an expense that is not covered by the master insurance policy because a unit owner failed to comply with a maintenance standard, it may assess that expense solely against the owner’s unit.  Thus, failing to comply with a maintenance standard does not necessarily make the unit owner responsible for the total cost of repairing any damages.  If some of the costs are covered by the master insurance policy, the owner is not responsible for those costs.  However, the owner may be held responsible for paying those costs that are not covered by available insurance proceeds, such as deductible.

To read more, visit www.CTCondolaw.com .

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 phone: 203-269-0284

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