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M-100: Community Association Management Essentials with Comprehensive Solutions
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M-100: Community Association Management Essentials with Comprehensive Solutions** ### Community Association Characteristics - **Mandatory Membership**: Membership is required for participation. - **Binding Documents**: All members adhere to mutually agreed-upon documents. - **Lien-Based Asses...

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  • August 12, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • m 100 community association management e

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  • M-100: Community Association Management Essentials
  • M-100: Community Association Management Essentials

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*M-100: Community Association Management
*


Essentials with Comprehensive Solutions**

### Community Association Characteristics

- **Mandatory Membership**: Membership is required for participation.

- **Binding Documents**: All members adhere to mutually agreed-upon documents.

- **Lien-Based Assessments**: Assessments are secured by liens on properties.



### Purposes of a Community Association

- **Business**: Operates as a non-profit entity.

- **Government**: Functions similarly to a small-scale government.

- **Community**: Members have shared reasons for residing in the area.



### Basic Types of Community Associations

1. **Planned Community**: Members own their individual lots or units, while the community owns
shared areas like recreational facilities.

2. **Condominium**: Individuals own their units and a percentage of shared common elements.

3. **Cooperative**: Individuals hold shares or membership in the cooperative and have a lease or
occupancy agreement.



### Community Association Clusters

, - **Master or Umbrella Associations**: Oversee multiple residential communities.

- **Mixed-Use Developments**: Combine residential and commercial spaces.

- **"55 and Older" Communities**: Where 80% of residents are 55+ and at least one resident per unit is
55+.



### Sources of Legal Obligations

- **Federal, State, and Local Laws**: Applicable statutes, regulations, and case law.

- **Governing Documents**: Official documents of the association.

- **Professional Standards**: Guidelines from bodies like the AICPA.

- **Lender Requirements**: Obligations set by financial institutions.



### Federal Laws Affecting Community Associations

- **EEOC**: Equal Employment Opportunity Commission

- **FDCPA**: Fair Debt Collection Practices Act

- **FLSA**: Fair Labor Standards Act

- **FMLA**: Family and Medical Leave Act

- **FICA**: Federal Insurance Contributions Act

- **OSHA**: Occupational Safety and Health Administration

- **Bankruptcy Code**: Rules for bankruptcy proceedings

- **FCC**: Federal Communications Commission

- **FHA**: Fair Housing Act



### State Statutes for Community Associations

- **General**: Broadly applicable to all associations.

- **Specifics**: Pertains to particular types of associations and takes precedence over general statutes
and governing documents.

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