Author: Andrew Podolski
Ensuring Compliance for NJ Community Associations: Key Requirements and Deadlines
Posted in Community Associations
There are three important requirements affecting New Jersey Community Associations: Reserve Studies Compliance, the Corporate Transparency Act (CTA) Compliance and Structural Integrity Compliance. Please ensure your association is in compliance. Reserve Studies Compliance All community associations with at least $25,000 in capital assets must comply. Reserve studies must be updated… Continue reading
New Structural Integrity Law In New Jersey – Community Association Compliance Required
Posted in Community Associations
As we enter the last quarter of 2024, we want to again remind our New Jersey community association clients to review whether their buildings require structural inspections pursuant to the new Structural Integrity Law (N.J.S.A. 52:27D-119 et seq.). Who must comply? Unlike the January 8, 2024 law relating to reserve… Continue reading
Corporate Transparency Act (CTA): Action Required for Community Associations
Posted in Community Associations
As the end of the year approaches, there has been no determination that community associations will be relieved of the requirement to comply with the Corporate Transparency Act (CTA). While we remain hopeful of a legislative or legal solution, you must be prepared to file the required information no later than… Continue reading
New Reserve Law in New Jersey – Community Association Compliance Required
Posted in Community Associations
We are now halfway through 2024 and we want to again remind our New Jersey community association clients to check their reserve study status to ensure compliance with the January 8, 2024 law relating to reserve studies and reserve funding. Who must comply? All New Jersey community associations are required… Continue reading
Structural Integrity Bill Imposes New Structural Inspection and Reserve Study Requirements on Certain Community Associations
Posted in Community Associations, Construction Litigation
On January 8, 2024, Governor Murphy signed into law Senate Bill S2760 (and its companion legislation, Assembly Bill A4384), which is informally known as the “Structural Integrity Bill.” The New Jersey Chapter of the Community Associations Institute (CAI-NJ) and its Legislative Action Committee (LAC) worked diligently with New Jersey lawmakers… Continue reading
Pre COVID-19 Construction Cost Estimates Are Likely Outdated
Posted in Community Associations, Litigating Claims
In New Jersey (and virtually all other states), construction defect cases for common interest community associations are heavily reliant on expert witnesses. Even if a building system is obviously defective — in that windows leak every time it rains, cracks have developed in walls, and sidewalks have sunken from improper soil… Continue reading
New Legislation Permanently Allows Community Association Members to Participate in Member Meetings Via Remote Communication
Posted in Community Associations
The New Jersey Nonprofit Corporation Act (N.J.S.A. 15A:5-1, et seq.) (the “Act”) was amended on Monday, January 22, 2022, to permanently allow remote community association member meetings (using Zoom, Teams, or other remote communication technologies). Previously, the Act permitted remote meetings of members-only when New Jersey was in a declared state of… Continue reading
10 Easy Ways Owners Can Cut Construction Costs and Reduce Risks Now
Posted in Construction Litigation
The good news is that owners can reduce construction costs and risks. Following are Stark & Stark’s Top 10 tips for owners to consider: Refinance. You can cut construction costs, improve loan terms, and reduce risks by taking advantage of low interest rates, rising property values and available financing. Obtain… Continue reading
