Condominium Association Management Issues (Finding Your Piece of the Rock)
What Issues Do Condominium Owners Face. The host for this show is Abe Lee. The guest is James Merrell.
Find out the role of a condo association management company. They provide community associations and condominiums with a full array of physical, fiscal, and administrative management services – all with no hidden costs or surprises.
Management companies need to be well-versed in navigating complex issues, such as the management of reserve funds; enforcement of bylaws, declarations, house rules; the oversight of fiduciary duties; and annual budgets.
The condo association is established by rules according to Hawaii Revised Statues 514B. Realtors (sellers) provide the governing documents for the prospective buyer to read. There may be something in there that the buyer doesn’t like and for that reason they can back out of the sale. These documents can be simple in some ways and complex in other ways. There are times when a property manager is advising a Board to seek legal advice to interpret a part of the Declaration (or Bylaws) as is it nebulous to a current situation.
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