Protect Your Investment
Your home is your biggest investment. If you live in a condominium project, planned development, or other common interest community, however, you've invested in more than just a home.
As the name suggests, "common interest" developments leverage pooled resources and economies of scale to offer more affordable ownership, better amenities, and an enhanced quality of life. As of 2024, almost 40% of Californians live in over 55,000 CIDs statewide.
These shared benefits come with a cost. As a common interest homeowner, you are subject to an increasingly complex set of legal rights and responsibilities, the Davis-Stirling Act, and your investment is controlled by your association, to which you pay dues.
Fortunately, common interest developments come with instruction manuals. Unfortunately, these manuals - also known as governing documents - become legally and practically obsolete over time. In addition, many are poorly drafted, or drafted to serve your developer's interests.
My practice is dedicated to providing new CC&Rs, bylaws, and other governing documents that are current, comprehensive, and carefully tailored to your community's unique needs and circumstances. This service offers a number of financial and practical benefits:
Collectively, these benefits can reduce costs, enhance neighbor relations, and increase property values. Please read more about my common interest expertise and update services, then contact me today to request an update proposal.
As the name suggests, "common interest" developments leverage pooled resources and economies of scale to offer more affordable ownership, better amenities, and an enhanced quality of life. As of 2024, almost 40% of Californians live in over 55,000 CIDs statewide.
These shared benefits come with a cost. As a common interest homeowner, you are subject to an increasingly complex set of legal rights and responsibilities, the Davis-Stirling Act, and your investment is controlled by your association, to which you pay dues.
Fortunately, common interest developments come with instruction manuals. Unfortunately, these manuals - also known as governing documents - become legally and practically obsolete over time. In addition, many are poorly drafted, or drafted to serve your developer's interests.
My practice is dedicated to providing new CC&Rs, bylaws, and other governing documents that are current, comprehensive, and carefully tailored to your community's unique needs and circumstances. This service offers a number of financial and practical benefits:
- Reflect current law. California’s complex body of common interest law has grown dramatically in recent years. Governing documents that fail to reflect these changes can seriously mislead boards, owners, managers, lenders, insurers, and others as to their legal rights and responsibilities, which can lead to confusion, conflict, and costly legal liability. New governing documents help ensure your development’s critical operating instructions are legally correct.
- Reflect current needs. As common interest developments mature, their practical needs often change. Use restrictions, maintenance requirements, assessment allocations, and other provisions drafted decades ago often fail to reflect current realities. New governing documents that reflect your community's current needs help your board and management govern in an effective and efficient manner.
- Reflect best practices. The common interest industry has developed a suite of best practices designed to enhance long-term stability and success. These include vetted collection, disciplinary, and architectural controls, efficient election practices, comprehensive liability protections, detailed allocations of maintenance responsibilities, and more. New governing documents that reflect modern best practices help ensure your development remains an attractive and desirable community for decades to come.
- Eliminate obsolete provisions. Developer-drafted documents are imposed to ensure quick sales and control, not long-term success. Once development is complete, 30-40% of the provisions become obsolete, and the remainder often fail to provide for important needs, such as lease restrictions. New governing documents eliminate obsolete provisions and reflect your community’s democratic desires, which can reduce potential liability and enhance owner and resident acceptance of HOA governance.
- Enhance creditworthiness and insurability. Lenders, insurers, and service providers may review governing documents when deciding whether to do business with a community. New governing documents that are legally and practically current and reflect modern best practices can positively affect such reviews, which can lead to significant financing, insurance, and vendor savings and an increased pool of potential purchasers.
Collectively, these benefits can reduce costs, enhance neighbor relations, and increase property values. Please read more about my common interest expertise and update services, then contact me today to request an update proposal.