The changes to HUD under the Trump administration have a complex and potentially far-reaching impact on both current and future homeowners. Key Changes and Potential Impacts Rollback of the Affirmatively Furthering Fair Housing (AFFH) Rule: The rollback of the AFFH rule could potentially lead to increased segregation and unequal access to housing opportunities. This could [...]
WUCIOA how did we get here? It's important to understand the history of Washington State's laws regarding common interest communities, including condominiums. The laws are undergoing significant changes, particularly with the implementation of the Washington Uniform Common Interest Ownership Act (WUCIOA). Here's a breakdown of the changes over time: Key Legislative Shifts: Washington Condominium Act [...]
For condominium and homeowners associations, strategic winter planning is crucial, especially when budgeting for services like snow removal. Tools like the Farmers' Almanac, with its long history of weather predictions, can offer valuable insights. This past winter, the Almanac forecasted a "wet and cold" season for the Pacific Northwest, influenced by La Niña, predicting a [...]
As of early 2025, the Corporate Transparency Act (CTA) remains a significant compliance factor for incorporated community associations nationwide, including those in Washington State. While the initial BOI (Beneficial Ownership Information) reporting deadline has passed, continuous compliance and awareness of potential updates are vital. The CTA's implementation and enforcement are still subject to refinement, and [...]
Waking up this morning (March 3rd 2025) to a 4.5 earthquake was a reminder that mother nature can throw a disaster our way which can have financial implications to the associations. Condominium associations in the Pacific Northwest face a unique set of natural disaster risks, primarily fire, flood, and earthquakes. Proactive risk mitigation is essential [...]
Fannie Mae and Freddie Mac, two government-controlled giants of the mortgage finance world, have been under federal conservatorship for nearly 17 years. But the idea of privatizing these entities is gaining traction again in Washington, D.C. This raises important questions about the potential impact on homeowners in Washington state. Why are Fannie and Freddie so [...]
The Impact of Reserve Studies in Light of the Corporate Transparency Act The Corporate Transparency Act (CTA), a federal law, has introduced new reporting obligations for incorporated community associations, impacting how these associations, and their boards, operate. While the CTA's implementation and enforcement are subject to change due to ongoing legal challenges, understanding its implications, [...]
Homeowners Insurance vs. Condominium or Homeowners Association Insurance in the Pacific Northwest While both homeowners insurance and COA / HOA insurance offer crucial protection, they cover different things. Homeowners insurance safeguards your individual property and belongings, while association insurance protects the shared property and liability of the homeowners association. Understanding this distinction is especially important [...]
As a board member of a Washington State condominium and homeowner association (COA - HOA ), you're likely facing a challenging insurance market. The state's unique geographical features, combined with the increasing frequency and severity of natural disasters, have contributed to a hardening insurance market. This means higher premiums, reduced coverage options, and potential non-renewals. [...]
Protecting Your Community: A Guide to Effective Drainage in the Pacific Northwest for HOA Boards The Pacific Northwest's lush environment is also known for its abundant rainfall. This makes effective drainage a critical concern for Condominium and Homeowners Associations (COAs / HOAs). Poor drainage can lead to costly property damage, including foundation issues, basement flooding, [...]