Real Estate Advisor Law Blog

Real Estate Advisor Law Blog

Category Archives: Condominiums

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Potential Changes Coming to the Ohio Condominium Act

Posted in Condominiums, Legislative Update
Thank you to our friend Denice Hertlein of Clark Schaefer Hackett for insightful comments relating to Ohio House Bill 371 which has the potential to place more requirements on condomninium associations and their officers and managers. Being volunter organizations, House Bill 371 has the potential to deter active participation by owners in condomiminium associations by requiring… Continue Reading

Risk Appetite: One Perspective from Chicago

Posted in Condominiums, Development Issues recently interviewed Alan Lev, CEO of Belgravia Group.  Alan discusses his company’s recent performance and strategies in this challenging market and his thoughts on the future of the Chicago residential real estate market and its ability to absorb the current inventories. What struck me as insightful and telling are Alan’s insights (at the video… Continue Reading

Legislation Introduced to Create Condominium “Super Lien” in Ohio

Posted in Condominiums, Legislative Update
Representatives Ken Yuko and Brian Williams recently introduced House Bill 408, which would create a condominium “super lien” in Ohio. Ohio condominium associations currently have the right to lien a condominium owner’s unit for unpaid assessments; however, that lien almost always sits behind the first mortgage lien. When the unit is foreclosed upon and sold at sheriff’s… Continue Reading

No Exclusive Cable Contracts for Apartment and Condominium Projects

Posted in Condominiums, Development Issues, Legislative Update, Property Management Issues
The U.S. Court of Appeals for the District of Columbia recently upheld a 2007 Federal Communications Commission ("FCC") order prohibiting the owner’s of apartment buildings, condominiums and other multi-unit residential properties from entering into exclusive contracts for providing cable T.V. services.  The FCC relied upon Section 628(b) of the Communications Act.  The FCC’s position is… Continue Reading

A Guide to Dealing with Increased Delinquencies in Condominium and Homeowners’ Associations

Posted in Bankruptcy/Creditor's Rights Issues, Condominiums, Litigation Issues
According to the Community Associations Institute, nearly 60 million people across the country live in association-governed communities. Many of these communities have been severely affected by the current economic downturn and increase in foreclosure rates. In a condominium or homeowners’ association, delinquencies and foreclosures create a ripple effect that impacts all owners. Once an owner ceases paying… Continue Reading

Mix It Up! Mixed-Use Condominium Developments Can Be Rewarding for Developers

Posted in Condominiums, Development, Development Issues, Mixed Use Development Issues
“Mixed-use” developments, which incorporate residential units with retail or other commercial uses, have steadily gained in popularity over recent years. This is due to the fact that mixed-use developments offer advantages to developers, owners, tenants and residents when compared to traditional single-purpose developments. Many of today’s home buyers are increasingly interested in living within walking distance… Continue Reading