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HUD tweaks FHA Project Approval Standards – Condominiums with Less Than 50% Owner-Occupancy Can Apply for Exception

As we reported last year, a 2016 law directed HUD to loosen its approval standards so that condominiums with less than a 50% owner-occupancy ratio could potentially qualify for approval.  Under rules issued at the end of 2016, a condominium that has an owner-occupancy ratio below 50% (but no lower than 35%) can apply for […]

Congress Passes Law Requiring FHA to Loosen Project Approval Requirements

In late July 2016, President Obama signed H.R. 3700, the Housing Opportunity through Modernization Act.  This legislation alters the process utilized by the Federal Housing Administration (FHA) in determining if condominium unit owners qualify for a mortgage with FHA insurance.  FHA-insured mortgages are used by many first-time homebuyers to purchase homes, including condominium units. In 2009, […]

DC Passes Bicycle Storage Rules Applicable to Condominiums

The DC Department of Transportation has finally adopted a rules that require residential buildings to provide for bicycle storage.  DDOT’s rules have been under consideration for some time, but became final and effective on November 28, 2014.  The new rule recognizes the District’s increasingly bike-friendly environment. Under these rules, DC residential buildings with more than […]

Virginia Associations’ Legislative Update “To Do” List

As a result of the legislation that passed in the 2013 Virginia General Assembly, we suggest that property owners’ associations and condominium associations take the following initial steps before July 1st of this year: 1. Update Resale Disclosure Forms: review your governing documents and files to determine whether there are any solar panel restrictions that […]

2013 Virginia Legislative Update

By Jerry M. Wright. It is that time of year again — time to acquaint yourself with more legislation that may affect your community association!  By the time the 2013 Virginia General Assembly wrapped up its Regular Session in late February, one hundred Delegates and forty Senators had dispensed with over 2,500 pieces of legislation. […]

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