Attention Connecticut Condo Associations

By
Home Stager with Staging4Smooth Transitions Connecticut Home Staging

Are you acting in accordance with the new CIOA (Common Interest Ownership Act) law? In July sweeping changes were made to the laws that govern the way condominium associations operate. Are you aware of these changes?

For example, the new CIOA law dictates how
condominium associations hold their meetings.  Did you know you are required to give notice to unit owners of ALL Board meetings and that ALL Board meetings must be open?

The new CIOA law affects the way
condominium associations initiate foreclosures, adopt  budgets and prepare resale certificates. 

The new CIOA law also governs the way condominium associations adopt and enforce rules. Did you know that that there are sections of the new law that pertain to the flag displays AND political signage?

There are many, many more changes that you community should be aware of. If you would like more information please do not hesistate to contact me.

This post brought to you by, Karen Bernetti on behalf of The Home Team Advantage Management Services, LLC. 860-621-6964. 

 

Posted by


                                           

 

Ready2Sellin30Days

Karen Bernetti is a Real Estate Stager, Former Realtor®, Author, Speaker, and Owner of Staging4Smooth Transitions - specializing in assisting seniors with their downsize moves and offering Home2Home Transitions seminars. Karen is also the Social Media Manager and Administrative Coordinator for Prudential CT Realty, in Madison, CT and Co-creator of the Ready2Sellin30Days System - an interactive multi-media program teaching do-it-yourself homeowners EVERYHTING they need to know about preparing a home for sale. Stay up to date on the latest staging and home decor trends by visiting Karen & Ann's Home Sale Success Blog.  

 

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Tags:
condominium
condo management
condo associations
cioa
community association management

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Rainer
369,954
Tish Lloyd
Broker - Wilmington NC and Surrounding Beaches
BlueCoast Realty Corporation

This is the kind of information that doesn't get enough press.  Thanks for taking the time to let the public know what's going on in your area regarding the law.

September 06, 2010 10:18 PM
Ambassador
1,659,432
Margaret Rome, Baltimore Maryland
Sell Your Home With Margaret Rome
Broker/ Owner HomeRome Realty-Author "Real Estate the Rome Way" 410-530-2400

Karen, Thanks for the reminder for those of us listing and selling condo units.

Margaret

September 06, 2010 10:57 PM
Rainer
171,989
Lisa Orme
Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu
The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY

Karen - this is great information. I am on the Board of Directors of a condo complex here in Windsor, and I manage a complex in New Britain so I was aware that there were major changes. One big change is about the capital reserves of the association which must include 10% of the yearly budget -- I've got to look into exactly how that is worded, but it affects the FHA approval for the complex and the ability of buyers to obtain FHA financing, so it's another extremely important change. Thanks for calling it to our attention!

September 07, 2010 12:01 AM
Rainer
229,755
Karen Bernetti
Staging4Smooth Transitions Connecticut Home Staging

Thanks Tish and Margaret for checking in

Lisa - there are MANY changes, I just highlighted a few.  Enough to blog about for many days to come.  I was thinking of highlighting 1 or 2 every few days.  You just can't cover them all in one post that's for sure!

September 07, 2010 12:13 AM
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Rainer
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Karen Bernetti

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