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Fannie Mae’s 15% Reserve Requirement for Condominiums: What Associations Need to Know for 2027
Fannie Mae requires condominium associations to allocate at least 10% of their annual budgeted assessment income to replacement reserves, increasing to 15% starting January 4, 2027. [1, 2] Key Reserve Requirements Using a Reserve Study as an Alternative If an association does not meet the strict percentage contribution in its annual budget, lenders can look…
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How Can an HOA President Manage Disagreements Among Board Members Professionally?
Key Takeaways • HOA board disagreements should be handled through clear procedures and respectful communication. • The president generally leads meetings but does not act alone unless authorized. • Maryland HOA boards should follow governing documents, meeting rules, and applicable law. Annapolis HOA lawyers at Oliveri & Larsen can help homeowners’ association (HOA) presidents, board…
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What Are the Most Common Legal Disputes Between Homeowners and HOAs?
Homeowners’ associations (HOAs) play a crucial role in maintaining the appearance, safety, and property values of residential communities. However, tensions can arise when homeowners and HOAs disagree on rules, responsibilities, or enforcement. These conflicts can lead to legal disputes that impact not only individual homeowners but also the community as a whole. Disputes Over Property…
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What Happens When You Are Delinquent on Your HOA Dues?
By collecting dues from residents, HOAs are able to maintain common areas, cover shared expenses, and help protect property values. While most homeowners pay these dues on time, some may fall behind due to financial challenges or misunderstandings. If you find yourself delinquent on your HOA dues, it is important to understand what this means…
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Understanding Your Rights as an HOA in Annapolis
Homeowners associations (HOAs) play a vital role in maintaining the value, safety, and aesthetics of a community. However, running an HOA comes with legal responsibilities, governance challenges, and the need to protect the association’s rights while complying with Maryland law. At Oliveri & Larsen, we help Annapolis HOAs navigate complex legal issues and ensure that…
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What Are Bad Actor Clauses in HOAs?
Homeowners’ associations (HOAs) rely on honest and effective governance to maintain community stability and trust. Unfortunately, not every board member upholds their fiduciary duties. Misconduct can cause financial loss, disrupt operations, and erode homeowner confidence. Individuals who engage in such behavior are often called “bad actors,” and many associations are turning to governance tools like…