Fairfax County's 2008 Common Interest Community Legislation

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The Fairfax County Consumer Affairs Branch highlights some key points on 2008 Common Interest Community Legislation. The Common Interest Community Board consists of 11 members appointed by the governor. Some of the boards responsibilities include developing regulations, regulation of the complaint process, and the enforcement of these regulations.

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Fairfax County's 2008 Common Interest Community Legislation

  1. 1. 2008 Common Interest Community Legislation<br />Consumer Affairs Branch<br />Fairfax County Department of<br />Cable and Consumer Services<br />fairfaxcounty.gov/consumer<br />
  2. 2. House Bill 516 and Senate Bill 301<br />Eleven Member Regulatory Board <br />Management Firm Licensure Requirements<br />Insurance Requirements Expanded<br />The Office of the Ombudsman<br />The Common Interest Community Management Recovery Fund<br />Resale Certificates and Disclosure Packet requirements<br />fairfaxcounty.gov/consumer<br />
  3. 3. Virginia Laws Governing Community Associations<br /><ul><li>Virginia Condominium Act
  4. 4. Title 55 – Chapter 4.2
  5. 5. Virginia Property Owners’ Association Act
  6. 6. Title 55 – Chapter 26
  7. 7. Virginia Common Interest Community Management Information Fund
  8. 8. Title 55 – Chapter 29
  9. 9. Common Interest Communities
  10. 10. Title 54.1 – Chapter 23.3</li></ul>fairfaxcounty.gov/consumer<br />
  11. 11. Consists of 11 members appointed by the Governor <br />Three common interest community managers<br />An attorney<br />A certified public accountant<br />A representative of the timeshare industry<br />Two real estate developers<br />Two Virginia citizens who are residents of a common interest community<br />Common Interest Community Board (CIC Board)<br />fairfaxcounty.gov/consumer<br />
  12. 12. Development of regulations establishing the licensing and certification of community managers and employees (Title 54.1 Chapter 23.3)<br />Regulation of the complaint process of the Ombudsman’s Office<br />Administration of the Common Interest Community Management Information Fund<br />Enforcement of regulations under its authority<br />Responsibilities of the CIC Board<br />fairfaxcounty.gov/consumer<br />
  13. 13. Open to the public<br />Emergency regulations for Provisional Licensing were passed 11/13/2008.<br />Established a regulatory committee for the development of permanent regulations<br />Virginia Town Hall <br /> www.townhall.virginia.gov<br />CIC Board and Committee Meetings <br />fairfaxcounty.gov/consumer<br />
  14. 14. fairfaxcounty.gov/consumer<br />
  15. 15. fairfaxcounty.gov/consumer<br />
  16. 16. fairfaxcounty.gov/consumer<br />
  17. 17. fairfaxcounty.gov/consumer<br />
  18. 18. Must hold a valid license <br />Provisional Licenses could be obtained through December 31, 2008 and are valid through June 11, 2011<br />Must secure a blanket fidelity bond or dishonesty insurance policy <br />Must establish internal controls and policies and have records audited annually<br />Common Interest Community Managers<br />fairfaxcounty.gov/consumer<br />
  19. 19. Must have a blanket fidelity bond or employee dishonesty insurance policy <br />Insures against loss/theft committed by officers, directors, or persons employed by association<br />Insures against loss/theft committed by common interest community manager or employees <br />Coverage must be lesser of $1 million or the amount of reserve balances plus ¼ of the aggregate annual assessment of association<br />Minimum coverage must be $10,000.00<br />Common Interest Community Associations <br />fairfaxcounty.gov/consumer<br />
  20. 20. Falls under the Director of the Virginia Department of Professional Occupational Regulation <br />Ombudsman must be an attorney in good standing with the Virginia State Bar<br />Reports to the Common Interest Community Board<br />Office of the Common Interest Community Ombudsman<br />fairfaxcounty.gov/consumer<br />
  21. 21. Assists individuals in understanding and exercising their rights in resolving issues with their associations<br />Maintains data on inquiries, requests for assistance, complaint notices and resolutions of disputes<br />Issues non-binding explanations of laws and regulations governing associations<br />Responsibilities of the Office of the Ombudsman<br />fairfaxcounty.gov/consumer<br />
  22. 22. Association Registration Staff<br />Phone: 804-367-0776<br />Office of the Ombudsman<br />Phone: 804-367-2941<br />Email: cicliaison@dpor.virginia.gov<br />CIC Board Important Contact Numbers<br />fairfaxcounty.gov/consumer<br />
  23. 23. Created to promote the more efficient operation of common interest communities through research and education<br />Funded by assessments paid by the Common Interest Community Managers, fees for licensure and monetary penalties collected<br />Common Interest Community Management Information Fund<br />fairfaxcounty.gov/consumer<br />
  24. 24. Changes to the documents to be included in the packet<br />Fees that can be assessed<br />Fee payment responsibility <br />Delivery of the resale packet<br />Resale Certificates and Disclosure Packets<br />fairfaxcounty.gov/consumer<br />
  25. 25. For the six months prior to the request for the resale packet<br />Copies of any approved minutes of the board of directors <br />Copies of any approved minutes of the common interest community association member/owner meetings <br />Association Meeting Minutes <br />fairfaxcounty.gov/consumer<br />
  26. 26. Varies by how the community is managed<br />Inspection of the property<br />Preparation and issuance of resale certificate <br />Preparation and issuance of the disclosure packet<br />Authorized Fees for Resale Packet<br />fairfaxcounty.gov/consumer<br />
  27. 27. Common Interest Community Managed Communities - Fees<br />Inspection fee – no more than $100.00<br />Preparation and delivery of the resale packet<br />no more than $150.00 -paper format <br />no more than $125.00 – electronic format<br />Expedite fee – no more than $50.00<br />Additional copies – no more than $25.00/hard copy<br />Actual cost of hand delivery or overnight service<br />Post-closing fee – no more than $50.00<br />fairfaxcounty.gov/consumer<br />
  28. 28. Collected at the time of settlement – out of settlement proceeds<br />Seller responsible for all costs except the following which are the responsibility of the requestor and payable at settlement<br />Costs of any updates<br />Costs of financial updates<br />Collection of Resale Fees<br />fairfaxcounty.gov/consumer<br />
  29. 29. Settlement must occur within 90 days of delivery of the resale packet<br />Uncollected fees shall be the personal obligation of the seller<br />Settlement Timeline<br />fairfaxcounty.gov/consumer<br />
  30. 30. Fee for preparation and issuance of resale disclosure packet must equal actual cost<br />Actual cost cannot exceed $0.10 per page of copying costs or a total of $100 for all costs incurred<br />No requirement that these fees be paid at settlement<br />Self-Managed Property Owners’ Association<br />fairfaxcounty.gov/consumer<br />
  31. 31. May be requested by Settlement Agent<br />Must specify complete contact information <br />Shall be delivered within three (3) business days of the written request<br />Financial Updates<br />fairfaxcounty.gov/consumer<br />
  32. 32. Upon request, written escrow instructions shall be provided to the Settlement Agent<br />There shall be no fees charged<br />When transmitting funds, the settlement agent will provide<br />The complete name of the seller and purchaser<br />The address of the subject lot<br />The date of settlement<br />A brief explanation of the application of funds transmitted<br />Escrow Instructions<br />fairfaxcounty.gov/consumer<br />
  33. 33. Common Interest Community Resources<br />
  34. 34. http://www.fairfaxcounty.gov/consumer/hoa.htm<br />fairfaxcounty.gov/consumer<br />
  35. 35. http://www.dpor.virginia.gov/dporweb/cic_main.cfm<br />fairfaxcounty.gov/consumer<br />
  36. 36. http://leg1.state.va.us/lis.htm<br />fairfaxcounty.gov/consumer<br />
  37. 37. Budget for increased fees for filing annual report<br />Develop written complaint process<br />Review current insurance coverage<br />Develop disclosure packet/resale certificate request form<br />Update disclosure packet/resale certificate packets to include required documents<br />Plan of Action <br />fairfaxcounty.gov/consumer<br />
  38. 38. Contact the Fairfax County Consumer Affairs Branch for more information:<br />12000 Government Center Parkway, Suite 433<br />Fairfax, Virginia 22035<br />703-222-8435 TTY 711<br />www.fairfaxcounty.gov/consumer<br />consumer@fairfaxcounty.gov<br />fairfaxcounty.gov/consumer<br />Contact Consumer Affairs<br />

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