Posted by AmberPM on September 14, 2011 · Leave a Comment
Many HOAs have language in their governing documents that act as a spending cap on capital improvement projects without member approval (often at 5% of the annual budget). However, the term “capital improvement” is often not defined. This often leads to confusion as to whether an expense requires member approval. “Capital improvement” is an accounting … Continue reading →
Filed under Board of Directors, CC&R Enforcement, Civil Code, Governing Documents, investments · Tagged with 5% of the annual budget, adopting, Amber Property Management, Amend, Associations, capital expenditure, Capital Improvement, CC&R's, Condo, Governing Documents, HOA, HOA expenses, Homeowner Association, Orange County Property Management, permanent structural improvement, Property Management, restate CC&Rs, Single Family Home, Townhome, vote