Reader’s Choice 2017: Can hostile takeovers of condominium associations be prevented?

It’s that time of the year. For the rest of the year, I’ll be reposting the 10 most read articles here on IAC.

Thanks for following, reading, and sharing. Special thanks to readers who have provided inspiration for blog topics, and for those who have been willing to share their personal HOA stories.

Public awareness is the first step on the road to justice for housing consumers.

Best wishes for a peaceful holiday season and happier, healthier neighborhoods in 2018.

 

JANUARY 2, 2017 BY

Can hostile takeovers of condominium associations be prevented?
By Deborah Goonan, Independent American Communities

It’s a new year. Time for new starts and fresh beginnings. It’s also the time of year that state Legislatures prepare for new sessions, where they may consider bill proposals to rein in excessive power and abuse in Association Governed Housing Communities.

After a brief hiatus, the condo termination or “deconversion” process is once again, starting to heat up. For readers that are unfamiliar, the process involves converting condominiums to traditional rental apartments. In most cases, a condo “deconversion” – also knows as a condo takeover – is initiated by real estate investors that purchase 75-80% of the units and then vote to terminate the condominium association, usually forcing remaining unit owners to sell their condos and vacate, or rent them back from the new apartment owners.

And, this time, the trend is spreading beyond Florida.

Read more:

https://independentamericancommunities.com/2017/01/02/can-hostile-takeovers-of-condominium-associations-be-prevented/

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