Tag Archives: effectively

FL: First Coast condo sellers finding it hard to move on

News items of national interest regarding Condominium and Homeowner associations, compiled by the Community Associations Network

Jacksonville-area condominiums, already battered by values that have fallen to rock bottom, are being clobbered by loan restrictions that effectively freeze sales in many complexes that have been hardest hit by the economic downturn.
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Leasing & You

Many lawsuits challenging community associations’ efforts to enact or enforce rental restrictions don’t do very well in court. In fact, courts have usually upheld such lease restrictions – including limits on lease terms, occupancy and usage as well as outright bans.

The problems usually arise when governing documents are amended and owners find they can no longer rent their units, or can’t rent them for fewer than 12 months or rent them to five co-eds. To the uninformed owner caught short by a covenant amendment, the prevailing opinion is that, when you bought the home, your governing documents permitted such changes. In other words, owners should know that documents – and the activities they allow – can change.

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FL: Condo residents looking toward ‘silver lining’ in fallen condo prices

News items of national interest regarding Condominium and Homeowner associations, compiled by the Community Associations Network

In the years after the conversion, the Fairway Palms II condominium association struggled to recruit board members to effectively run the community. The community had trouble keeping the bills paid and attracting quality renters
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