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. 

 

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Karen Bernetti is a Real Estate Stager, Former Realtor®, Author, Speaker, and Owner of Staging4Smooth Transitions - specializing in assisting seniors with their downsize moves.  

Karen is also the Co-creator of the Ready2Sellin30Days® System - an innovative, interactive, multi-media educational program designed to teach do-it-yourself homeowners EVERYTHING they need to know about preparing a home for sale during tough economic times.  Visit www.Ready2Sellin30Days.com to learn more. 

Stay up to date on all the latest real estate staging and home decor trends with The Home Sale Success with Karen & Ann Blog!  Sign up here to receive The Home Sale Success with Karen & Ann Newsletter!

Call 860-302-0333 for more information.

 

4 Comments on Attention Connecticut Condo Associations

SEP
06
2010
366,604 Points 60 Featured Posts Outside Blog Called Shot Master

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.
10:18pm • #1
1,357,123 Points 130 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

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

Margaret
10:57pm • #2
SEP
07
2010
163,919 Points 10 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

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!
12:01am • #3
220,151 Points 27 Featured Posts Called Shot Master

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!
12:13am • #4


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Karen Bernetti (Staging4Smooth Transitions Connecticut Home Staging)

Karen Bernetti

Southington, CT

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Staging4Smooth Transitions Connecticut Home Staging

Address: PO Box 564, Southington, CT, 06489

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