Must an Association file federal income taxes?
May 12, 2016
In Tennessee, homeowners associations and condominiums associations are generally formed as non-profit corporations. This means that they are corporations that are not intended to make a profit; they are not “businesses”. They are not charitable organizations. Homeowners associations and condominium associations must file federal income tax returns, just like any other corporation. However, because of…
READ MOREWhat happens when your neighbors change every week?
November 3, 2015
Meriam-Webster defines a “neighbor” as a “person who lives next to or near another person.” Most of the time our neighbors are familiar. What happens when that neighbor changes on a monthly or even a weekly basis? This is a question that homeowners and condominium associations are having to answer more and more frequently. With the…
READ MORECan an Association Prohibit or Restrict Smoking?
October 2, 2015
Can an association prohibit or otherwise restrict smoking in the common areas or common elements? This is not a question one would typically hear for homeowners associations. Simply put, single family homes in planned developments typically have open air common spaces where smoking is not an issue. But, in condominiums or townhome developments, smoking can…
READ MOREAn Association’s Right to Non-Judicially Foreclose…
March 15, 2015
Often our first contact with an association begins with a discussion about a member who is seriously delinquent in the payment of their assessments. The Board wants to know what they can and should do. The answer we give often comes as a surprise. Have you thought of a non-judicial foreclosure? Many Boards do not…
READ MORE