This 2016-17 State Budget includes several new sales tax provisions intended to clarify the application of sales and use tax on certain repair, maintenance and installation services and provides a grace period for under-collection of that tax by contractors in 2016. These new provisions will be important to individuals and companies who provide repair, maintenance and installation services to real property. For example, as opposed to current sales and use tax law, these new provisions will treat similar transactions the same regardless who performs the service. This bill removes the distinction and provides that all businesses that provide taxable repair, maintenance and installation services will be treated the same. As a practical matter, this will have the effect of taxing many more repair and maintenance services to real property. Read the attached article for details on this tax change. Read More
For those of us that manage associations in NC there was recently a House Bill that was passed that will impact our associations budgets effective 2017. In summary, The NC Dept. of revenue will be taxing certain service providers that provide goods and/or services to our services to your associations. I have included the language of the bill below. On a positive note the exceptions listed exclude landscaping services, pest control, road repairs, parking lot repairs, sidewalk repairs and janitorial services. There is still confusion if the materials they provide will be taxed. Also note that pool services, and other repair and maintenance items are not included. Consult with you service and material providers regarding what the impacts will be for your associations when drafting your 2017 budgets. Read More
A condominium or community association’s annual membership meeting requires thorough preparation to be successful. One of the first things a manager or board should do is review the association’s governing documents for any annual and special membership meeting requirements. Read More
Does your association have a post-hurricane and disaster event plan in place? As I discussed in my last article, preparation is key for property owner associations when it comes to being ready for catastrophic events. But once the event happens, there are some steps your association should take. Read More
Is your association ready for a disaster or catastrophic event? A plan is critical year-round, but for the Cape Fear region, it is particularly important to be prepared for hurricanes and floods. One of the responsibilities of serving on a board of directors or committee is dealing with disasters and catastrophic events such as hurricanes, hail storms, tornadoes and forest fires, but this can also include collapsing decks and failing elevators. Does your association have a plan in place to handle these disasters? To learn more about how to develop a plan. Read More
In order to fully understand the functions of a property owner's association or to know your role if you are on the board of directors, it is especially important that you understand the various terms used in the industry. Here are the definitions of common property owners association terms. Read More
When it comes to community and condominium associations, one of the hottest topics is assessments, often referred to as dues. After 25 years of managing associations , we’ve learned that when it comes to finances and payments, there is a lot of discussion and, many times, confusion.
To help understand what association assessments are, how they work, and why they matter, we’ve provided answers to the top five questions we get asked about association assessments. Read More
Community and condominium associations are implemented by the developer of the community or condominium. For some associations, this can mean that they are governed by documents that may be quite old, outdated or not the right fit.
The good news is that the members of community and condominium associations can make changes to their declarations, covenants, bylaws, rules and regulations (commonly referred to as governing documents.) The members can amend, modify and revise various elements of their governing documents. However, any changes must be done thoughtfully and with strong attention to proper procedure. To understand how to go about making change. Read More
Anything you do within your community association should always start out with a good plan. Your ground maintenance/landscaping is no exception. Start out with your board of directors or landscape committee submitting a request for proposal (RFP) and this will get the process moving. For more details on what to include in your landscape plan. Read More
- NEW SALES TAX PROVISIONS FOR 2017
- NEW NC SALES TAX WILL IMPACT ASSOCIATIONS BUDGETS
- How to Run a Successful Association Meeting
- Property Owner Association Strategies for Post-Hurricane and Disaster Events (Part 3)
- Property Owner Association Strategies for Post-Hurricane and Disaster Events (Part 2)
- Property Owner Association Strategies for Hurricane and Disaster Preparation (Part 1)
- Common Property Owners Association Terms Defined
- Top 5 Questions About Association Assessments
- How do you Make Changes To Your Association's Governing Documents?
- Starting a Landscape Plan As A Property Owners Association
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