Homeowners

CAMS Blog

Termite Control In Your Community Association
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One of the most critical factors in the maintenance of multifamily buildings is termite control. Who pays for these services? Where this cost falls is determined but what type of association you’re dealing with. There are two main types of termite treatments (a bond and a control warranty) and there are several variations within tho...
Middle Income Earners Home Act
On March 3rd, Representatives Eshoo (D-CA) and Representative Thompson (D-CA) introduced the Helping Our Middle-Income Earners (HOME) Act, H. R. 4696. This bill allows for an income tax deduction for homeowners association assessments and fees.  Specifically, the bill would allow homeowners in community associations - ...
Tax Tips For Associations
Though most community associations are considered nonprofit corporations, they are still required to file taxes. Since community associations aren’t deemed charitable organizations, they don’t receive the same exemptions as other nonprofits like churches and schools. There are several forms that can be used when filing and the...
When To Call In The Professionals To Advise Your Board
Though one of the ultimate goals of association boards is to be financially sensible, there are times when it would behoove board members to hire professionals to aid in decision making and operations. Board members have certain duties and responsibilities which are outlined in the NC General Statues and it can only be beneficial to all i...
Changes to Worker's Compensation Act
The General Assembly passed a law this past Session that affects workers' compensation insurance requirements for certain non-profits. These non-profit corporations include those subject to Chapter 47A (Unit Ownership), 47C (Condominium Act), 47F (Planned Community Act), 55A (Non-profit Corporation Act) and 598 (Uniform Unincorporated Ass...
How to Conduct an Organizational Board Meeting
One of the most critical components of running a successful community association is holding a meeting of board members soon after each election. While some associations may have rules pertaining to how often meetings are held, it is a good idea to have a regular meeting schedule even without these rules. Many important activities are con...
Communities That Lack Reserve Fund Studies Face Uncertain Futures
One of the most crucial components of successfully managing an association is conducting a reserve fund study. Managing an association without this is very risky to say the least. When an association finds itself needing a large amount of capital or facing extensive maintenance issues, there are a few options that are available and not al...
Legislative Session Concludes at Last: Outcomes for CAI Stakeholders
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CAI’s NC Legislative Action Committee reports a very successful legislative session in its advocacy on behalf of the CAI community. Following is a summary of legislation to which your LAC gave significant attention throughout the two-year session.   Your LAC is your advocate in Raleigh – a group of volunteers whose commi...
Are Associations Required To Have Professional Reserve Studies
Even though there are not any state statutes that require property owners' associations to have a professional reserve study performed in North Carolina and South Carolina, it is necessary to look at the benefits of having a reserve study. Find out why your property owners' association should consider having a reserve study done.R...
Budget Preparations Don't Have To Be An Annual Headache
Getting ready for the budgets each year is often looked upon as a dreaded task, but it doesn't have to be. We would like to shed some light on the process to help you get through the process with more ease.Read More

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