Answering Condominium Questionnaires

Posted on July 13, 2011 by camsadmin

     If you manage a condominium you will eventually have to fill out a condominium questionnaire by a mortgage company.  A question you may be asked is “How many units are second homes?”   This can be a difficult question to answer if the owner rents the property some weeks throughout the year.  My response to the question is that if the owner stays in his property one or more weeks during the year, it is a second home!  In the case of beach condominiums, the units are usually only rented nine to twelve weeks out of the year.  The income from these rental periods help the owners pay their HOA dues, taxes and insurance allowing them to live in their units affordably. 

    Another question you will be asked is “How Many Units are Investment Property?”  I answer this based on whether the owner ever stays in the unit, or if the owner has multiple units in the building.  If the owner never stays in the unit, it is “Investment Property.”  All second units owned by a single owner are deemed “Investment Property.”  In certain cases the owner lives in the unit nine months out of the year and rents it the other three, in this case it is a “Primary Residence”.

    The questionnaire sometimes asks if you have a check-in/check-out desk.  This question can be answered “No” if you cannot come in and check-in without a prior reservation & payment.  Check-in packets may be prepared on-site or off-site but are picked up and dropped off at the security desk or manager’s office.  This does not constitute a check-in desk!

    Answering these questions based on these principles may help avoid your condominium being classified as a “Condotel”.  Avoiding this classification will make it much easier for the property in the building to be sold, thus maintaining the value of the condominium.

- Submitted by Allen Elkins, CMCA®, CAMS Community Manager

Posted in Condominium | Leave a comment

Mortgage Relief for Distressed Homeowners

Posted on June 16, 2011 by camsadmin

To help the millions of homeowners whose Federal Housing Administration (FHA) mortgages are threatened by foreclosure, the FHA established the Home Affordable Modification Option, or FHA-HAMP. Homeowners approved for this program could have their monthly mortgage payments reduced significantly.

Homeowners may only apply for FHA-HAMP once. And although they are not required to have equity in their homes, to be eligible for the FHA-HAMP mortgage payment reduction, homeowners must:

  • Reside in the properties they own.
  • Have a mortgage that is at least one year old.
  • Have made at least four mortgage payments.
  • Have mortgage payments (including taxes, insurance and homeowners/condo fees) that exceed 31 percent of their gross income before deductions.
  • Be delinquent on their mortgage payments by at least one month.
  • Have an unpaid principal on their home that is less than $729,500 ($934,200 for two units; $1,129,250 for three units and $1,403,400 for four units—The Department of Housing and Urban Development, which works with the FHA, defines a unit as “a habitable living unit added to, created within, or detached from a single-family dwelling that provides the basic requirements for living, sleeping, eating, cooking, and sanitation,” such as a mother-in-law suite).

Other requirements and considerations—such as the amount of the monthly mortgage payment in relation to the applicant’s debt ratio—may need to be satisfied before a mortgage reduction can be approved. For instance, a homeowner applying for FHA-HAMP must have a cumulative debt, including second mortgages, credit cards, car loans and leases and any other installment or revolving accounts, that is no more than 55 percent of his or her household’s monthly gross income.

To determine eligibility or to apply for the FHA-HAMP, homeowners should contact their existing lenders or the U.S. Department of Housing and Urban Development’s National Servicing Center at (888) 297-8685. Applicants will be asked to provide proof of income, a hardship letter explaining the circumstances of their financial difficulties and a list of monthly expenses with supporting documentation. To avoid scams, homeowners are reminded that HUD’s counseling services are free and are cautioned not to pay anyone to prepare their intake packages or applications.

Originally printed by CAI (Community Association Institute); 2011.

Posted in Finances, General Information | Leave a comment

Answering Condominium Questionnaires

Posted on May 25, 2011 by camsadmin

If you manage a condominium you will eventually have to fill out a condominium questionnaire by a mortgage company. A question you may be asked is “How many units are second homes?” This can be a difficult question to answer if the owner rents the property some weeks during the summer. My response to the question is that if the owner stays in his property one or more weeks during the year, it is a second home! In the case of beach condominiums, the units are usually only rented nine to twelve weeks out of the year. The income from these rental periods help the owners pay their HOA dues, taxes and insurance allowing them to live in their units affordably.

Another question you will be asked is “How Many Units are Investment Property?” I answer this based on whether the owner ever stays in the unit, or if the owner has multiple units in the building. If the owner never stays in the unit, it is “Investment Property.” All second units owned by a single owner are deemed “Investment Property.” In certain cases the owner lives in the unit nine months out of the year and rents it the other three, in this case it is a “Primary Residence”.

The questionnaire sometimes asks if you have a check-in/check-out desk. This question can be answered “no” if you cannot come in and check-in without a prior reservation and payment. Check-in packets may be prepared on site or off site but are picked up and dropped off at the security desk or manager’s office. This does not constitute a check-in desk!

Answering these questions based on these principles may help avoid your condominium being classified as a “Condotel”. Avoiding this classification will make it much easier for the property in the building to be sold, thus maintaining the value of the condominium.

Posted in General Information | Tagged , , , | Leave a comment

Increase Your Home’s Value

Posted on March 30, 2011 by camsadmin

A house is one of the biggest purchases a person will ever make, and most want to keep their homes looking beautiful not only for themselves, but also to entice future buyers. From time to time, it’s a good idea to invest in some home remodeling to add to its appeal. Of course, before making any major changes to your home, you’ll want to be sure you go through the proper channels—such as the association architectural committee for approval and the city for the necessary permits—to make sure that you don’t run into any legal issues.

So when it comes time to give your house a facelift, consider these touch-ups and renovations that will not only make your home look better than ever but also help increase its value:

Re-paint Your Rooms: One of the easiest (and cheapest!) ways to dramatically change the entire look of a room is to add a fresh coat of paint. Not only will it immediately make your walls look crisp and clean, but also, because wall color can greatly dictate the feel of a room, it’s a simple way to change the ambiance of your home. Since darker colors seem intense on walls and can make a room look smaller, it’s usually best to stick with lighter, warmer hues for your overall color to make your home feel open and welcoming. If you want to paint with darker colors, consider limiting them to an accent wall so that the color isn’t overwhelming and pops against the lighter colors.

If you’re doing the painting yourself, here are a few tips so your paint job looks professional:

  • Apply a coat of primer first so that walls won’t soak up as much paint. Use two coats of paint to ensure a rich, even coverage.
  • Use painters’ tape along the outside edge of the area you’re painting to get sharp, even lines.

Update Your Kitchen and Bathrooms: If your kitchen or bathrooms look like they belong in an era long since passed, it might be time to update them. That can be as simple as retiling the floor and replacing faucets and cabinet hardware or as complex as completely remodeling the rooms. When you remodel, consider avoiding too-trendy decor and instead stick with classic looks that will stand the test of time–this will keep you from redecorating again in five years and also make your home all the more appealing to potential buyers.

Add a Home Office: People’s work and home lives are drastically merging as more and more workers telecommute from home. Because of this, turning an empty basement, attic or bedroom into a dedicated home office can give you a peaceful place to work and also be a real selling point for potential buyers.

A good home office will have enough space to comfortably work in and have easy access to the Internet, electrical outlets and cable and phone jacks. Touches like built-in bookcases and desks can add that extra something that makes your home office a productive place to work.

Let There be Light: When a room doesn’t have enough light, it can feel very drab and enclosed. Bring in some much-needed brightness by adding new light fixtures to a dreary room. Don’t be afraid to use different types of fixtures to get the best results—for example, in a kitchen you could use a hanging pendant to spotlight a specific area (like the kitchen’s island), recessed light fixtures to spread the light  over the entire room and track lighting under the cabinet to make the kitchen feel open and bright. If you’re not sure which types of lighting fixtures will work best for you, consult a residential lighting designer to find out how to light your room just right.

Finish Your Basement or Attic: Utilize every inch of your home by turning your unfinished basement or attic into extra living space. These areas are untapped gems that can be used as game rooms or extra bedrooms, or, with enough space and the right design, a home all on its own complete with a living room, kitchen, bathroom and bedrooms. Basements and attics have special characteristics that need to be addressed. For example, basements are prone to water infiltration and attics often have slanted ceilings. It’s a good idea to bring in the professionals to guide you through these obstacles and make sure all major components like pluming, electric, walls and floors are done correctly.

Posted in General Information | Tagged , , , , | Leave a comment

CAMS and Duvall Investment Group, Inc. Join Forces

Posted on January 31, 2011 by camsadmin

CAMS is pleased to announce the formation of a new joint venture with Duvall Investment Group, Inc. The new company will be called Duvall/CAMS LLC. Both companies specialize in managing community associations throughout North Carolina.

In joining the companies, Duvall/CAMS and CAMS will now have a combined 100 employees, managing more than 200 finer communities in North and South Carolina. Dave Sweyer and Mike Stonestreet of CAMS and Howard Duvall of Duvall Investment are optimistic about integrating Duvall’s distinct approach to commercial and residential property management with CAMS’ expertise and presence in the NC market.

“Duvall Investment Group, Inc. is a company with similar values that will additionally compliment our resources,” Sweyer said.

Duvall Investment Group, Inc. was founded in 1983 by Howard Duvall and now comprises over 30 commercial and residential properties throughout the Charlotte and Piedmont Triad areas. Duvall’s primary services include property, facility and association management, office development and redevelopment, asset management and planning.

Like Duvall, CAMS specializes in managing community associations through a highly knowledgeable and certified management staff. CAMS manages 175 properties along the coast of North Carolina, in the Triangle area of NC and in Georgia.

Duvall/CAMS will be able to take advantage of CAMS Management Systems which include a new business operating software that is specifically designed for associations. With this, customers will have greater online access to their community information, accounting, community communications, etc.

“With the strengths, experience and synergies of both companies we feel that we can grow the new company in Charlotte and Western North Carolina and South Carolina,” Stonestreet said.

Posted in CAMS News | Tagged , , , | Leave a comment

Ray Sohl Has Joined the CAMS Team

Posted on December 16, 2010 by camsadmin

CAMS is pleased to introduce Ray Sohl, CMCA®, AMS® as a member of our team. Ray was selected to manage several associations in the Chapel Hill area due to his extensive knowledge of association management practices. Having managed master associations with commercial on-site facilities, HOAs, upscale high-rise condominium communities, and non-residential resort properties, Ray has a solid background in community management. For the past four years Ray managed a self-managed gated lake community association with 1,892 lot owners.

Ray Received BA, BS, & MA degrees from the University of DePauw, University of Wisconsin, and University of Colorado. In addition, he held a Florida Condominium Manager License and completed all hotel and restaurant management course work at Florida State University.

His glowing letters of reference contain statements such as:

“Ray did very well and maintained a great working relationship with the Board and the residents.”

“Ray was always very calm and unexcitable. Quiet and reserved mostly, but when he felt he needed to make a point, he did not hesitate.”

“Clearly he was proactive. It was Ray who finally convinced this community to embark on a decade overdue infrastructure improvement program.”

“Mr. Sohl has been an effective general manager in meeting the demands of this very high workload position. He has achieved strong cost controls, effectively managed the construction of a new maintenance facility, dealt with some challenging staff issues, and greatly improved the appearance and overall maintenance of the grounds and facilities. During his tenure, Mr. Sohl supervised turning a derelict building into a beautiful clubhouse for meetings and events, expanded and remodeled the marina, installed a new easy pass entry system at the gatehouse and has been integrally involved in the community’s massive dam spillway repair project.”

We are fortunate that Ray is now a Community Manager in the Triangle area which includes Chapel Ridge Community Association, Providence Glen Condominiums and Wexford Homeowners Association and will manage additional associations .

Posted in CAMS News | Tagged , , , , | Leave a comment

CAMS and Tetterton Management Group announce Merger

Posted on November 9, 2010 by camsadmin

 

CAMS is pleased to announce Tetterton Management Group has merged their business with CAMS. Tetterton Management group has been in business in the Morehead City/Atlantic Beach area for over 20 years and currently manages 9 community associations with 450 property owners. CAMS has been in business since February 1991 and currently manages 175 community associations with approximately 22,000 property owners.

“We believe the strength and success of both companies and the fact that our customers are very similar is why we feel this merger is a great fit for both of us”, states Dave Sweyer, CEO of CAMS.

To the excitement of both companies, Hilton Tetterton, who has been paramount in the success of Tetterton Management Group, has decided to continue his management pursuits with CAMS as a Community Manager working with the same customers in the Morehead City/Atlantic Beach area.

“Hilton has been very involved in almost all areas of professional real estate services over the years and knows the markets very well. Therefore, our plan is to try to grow our Association Management business in these markets after we transition the existing customers”, states Mike Stonestreet, President of CAMS.

The benefit to having these two companies merge is that CAMS will be able to offer Tetterton’s customers some new innovative services such as greater online access to their community information, accounting, community communications, etc. Each homeowner will have the ability to access their association account online, submit and track online work order requests, submit and track architectural change requests, check on the status of community violations, and setup online bill payment.

“Our internal push at CAMS is to transition most of our associations to paperless solutions for their membership,” Sweyer says. CAMS’ clients will carry out savings by sending out e-statements as opposed to traditional coupons or paper statements, or sending out electronic newsletters and notices as opposed to mailing out hardcopy newsletters.

“We are challenged in these tough economic times to find savings for our customers while improving the value we provide,” Sweyer said.

Posted in General Information | Tagged , , , | Leave a comment

Closed Meetings & Community Associations

Posted on October 4, 2010 by camsadmin

SHOULD YOU GO INTO CLOSED SESSION?

Generally, too much secrecy by boards leads to suspicion, distrust, and strife. With that said,why would a board exclude association members from its meetings? Most often,boards meet in private to avoid having to deal with association members. Some boards hold closed sessions to discuss controversial issues. In other associations, the board develops an “us versus them” attitude and prefers not to have members watching. At times boards meet in secret to avoid dealing with an irate homeowner. These are poor reasons to close a meeting, and most can be resolved without upsetting the entire neighborhood. For instance, association members generally have no right to participate— make motions or to debate—in board meetings. As a result, their attendance should not interrupt business. In the event a homeowner becomes disorderly, that owner can be excluded from the meeting without excluding all association members. Legitimate reasons for closing a meeting generally concern issues that if discussed in public could violate privacy laws, harm the association, or cause embarrassment to a party. Valid reasons for going into closed session include:

• Consulting with legal counsel;

• Discussing litigation or prospective litigation by or against the association;

• Reviewing information that is confidential or should not be generally known, such as delinquent dues;

• Conferring about contracts or real property purchases;

• Reviewing association employees or personnel issues; or

• Handling disciplinary matters or rules violations by members.

CAN YOU GO INTO CLOSED SESSION?

A first question is whether state law permits association boards to hold closed meetings. One NC statute provides that homeowners must be given an opportunity to attend a portion of a board meeting to speak about issues or concerns “at regular intervals.” Certainly, then, not all board meetings can be closed. Another statute provides:“Except as otherwise provided in the bylaws, meetings of the association and the executive board shall be conducted in accordance with the most recent edition of Robert’s Rules of Order Newly Revised.” However, Robert’s doesn’t care whether board meetings are open or closed. In fact, there are no general parliamentary prohibitions on closed meetings or what can happen during closed portions. A better question is how closed meetings are impacted by language in association governing documents. For instance, the declaration or bylaws may restrict when a board can go into closed session to certain circumstances. Occasionally, association governing documents will provide that “all board meetings shall be open to association members.” Generally, such language is too broad in that there are legitimate reasons for a board meeting in closed session. Associations sometimes attempt to avoid in-person meetings by transacting business through telephone or e-mail. Beware. There are statutes dealing with telephonic meetings. However, decisions made online or by e-mail are usually not official actions and must be ratified at a later meeting.

CONCLUSION

Closed board sessions should be approached cautiously and with the advice of legal counsel. Even if permitted by law and the governing documents, the question must still be asked,“Should the meeting be held in private?” Not much has changed since President Kennedy noted inherent opposition to secret proceedings. Except for those instances where closed sessions are truly necessary, the controversy and suspicion may not be worth the trouble.

Article courtesy of Jim Slaughter – CAI Serving NC Newsletter

Posted in General Information | Tagged , , , , , , | Leave a comment

Emergency and Disaster Preparedness for Pets

Posted on August 31, 2010 by camsadmin

Emergencies come in many forms, and they may require anything from a brief absence from your home to permanent evacuation. Each type of disaster requires different measures to keep your pets safe. The best thing you can do for yourself and your pets is to be prepared.

Step 1. Get a Rescue Alert Sticker

This sticker will let people know that pets are inside. Make sure it is visible to rescue workers and that it includes:

a.       The types and numbers of pets

b.      The name of your veterinarian and phone number

c.       If you must evacuate with your pets and time permits write “EVACUATED” across the sticker.

Step 2. Arrange a Safe Haven

Arrange a safe haven for your pets in the event of evacuation. DO NOT LEAVE YOUR PETS BEHIND. Remember, if it isn’t safe for you, it isn’t safe for your pets. They may become trapped or escape and be exposed to numerous life-threatening hazards. It is imperative that you have determined where you will bring your pets ahead of time:

a.       Check with your Vet for a list of preferred boarding kennels

b.      Ask your local shelter if they provide emergency shelter

c.       Identify hotels or motels outside your immediate area if they accept pets

d.      Ask friends and family outside your immediate area if they would be willing to take in your pet.

Step 3. Emergency Supplies and Traveling Kits

Keep an Evac-Pak and supplies handy, items to consider keeping in or near your

packs include:

a.       Pet first-aid kit and guide book

b.      3-7 days’ worth of canned ( pop top) or dry food

c.       Disposable litter trays ( aluminum roasting pans are perfect)

d.      Litter or paper toweling

e.       Liquid dish soap and disinfectant

f.        Disposable garbage bags

g.       Pet feeding dishes

h.       Extra harness and leash

i.         Photocopies of medical records and a waterproof container with a supply of any medicine your pet requires.

j.        Bottled water, at least 7 days worth for each person and pet

k.      A traveling bag, crate or sturdy carrier, ideally one for each pet

l.         Flashlight

m.     Blanket ( for scooping up a fearful pet)

n.       Recent photos of your pets( in case you are separated and need to make “LOST” posters)

o.      Especially for cats: Pillowcase, toys, scoop able litter

p.      Especially for dogs: Long leash and yard stake, toys and chew toys, a week’s worth of cage liners.

Step 4. Choose “Designated Caregivers”

This step will take considerable time and thought. When choosing a temporary caregiver.

Step 5. Evacuation Preparation

If you must evacuate your home in a crisis, plan for the worst-case-scenario. If you think you may be gone for only a day, assume that you may not be allowed to return for several weeks

When recommendations for evacuation have been announced, follow the instruction of local and state officials. To minimize evacuation time, take these simple steps:

a.       Store emergency kit and leashes as close to an exit as possible.

b.      Make sure your pet wear collars and tags with up to date identification.

c.       the ASPCA recommends micro chipping your pet as a permanent form of identification

d.      Always bring pets indoors at the first sign or warning of a storm or disaster. Pets can become disoriented and wander away from home during a crisis.

e.       Consider your evacuation route and call ahead to make arrangement for boarding your pet outside of the danger zone at the first sign of disaster.

Posted in General Information | Leave a comment

CENTURY 21 Sweyer & Associates and CAMS Sponsors Successful Fundraiser Event To Support Local Easter Seals Chapter

Posted on August 27, 2010 by camsadmin

CENTURY 21 Sweyer & Associates, Century 21 Sweyer Rentals & CAMS announced today that the company has raised over $40,000 for Easter Seals UCP of North Carolina and Virginia as a result of the successful CENTURY 21 Sweyer Fundraiser & Raffle held at Century 21 Sweyer Landfall Office on August 6th, 2010.

Thank you to the generosity of everyone who donated money. Special thanks to our Gold Sponsors:

North State Bank – $1000.00
Coverbind – $1000.00
Alpha Mortgage – $750.00
MEDAC – $500.00
Lenders Title & Escrow – $500.00
Allen Meglin – $500.00
Nicholas & Tia Saffo – $500.00
Blitz Research, Mike Harms – $500.00
Brian King – $400.00
Peter Saffo – $400.00
Stuart Vick – $360.00
2-10 Homebuyers Warranty – $350.00
Dave & Lisa Sledzik – $300.00
Tony Kotsopoulos – $300.00
Shoreline Maintenance & Security – $300.00

Thank you for your donation to Easter Seals UCP of North Carolina.  MEDAC purchased the winning ticket for the raffle drawing.  They graciously donated all of the winnings back to Easter Seals UCP.

“It is a pleasure to donate our time and resources to raise funds for our local Easter Seals chapter.  Fundraising events such as our CENTURY 21 Sweyer Fundraiser & Raffle provides our sales associates & employees, CAMS Division, & Rental’s Division the opportunity to give back to the local community while raising awareness of this worthy cause,” said Jeff Sweyer, broker/owner of CENTURY 21 Sweyer & Associates.  “It is a great feeling to have, knowing that our contributions go directly toward helping people with disabilities in our community achieve greater independence.”

The entire CENTURY 21 System has been affiliated with Easter Seals since 1979 and has raised more than $100 million to help children and adults with disabilities lead fuller, more independent lives.

Easter Seals is the leading non-profit provider of services for individuals with autism, developmental disabilities, physical and mental disabilities, and other special needs. For more than 85 years, we have been offering help and hope to children and adults living with disabilities, and to the families who love them. Through therapy, training, education and support services, Easter Seals create life-changing solutions so that people with disabilities can live, learn, work and play in their communities.

Posted in General Information | Leave a comment