Governing Document Amendments

Are your association’s documents up to date? If not, take the guesswork out of document interpretation by amending those documents so that they set forth an accurate list of the rights and responsibilities of both the association and unit owners in your community. Certain older associations that have not updated their documents since the introduction of the Common Interest Ownership Act may wish to perform a document amendment which would allow the association to opt into the Act and take advantage of the many substantive statutory changes which make governing such associations more efficient than they had been at the time of formation. Document amendments can include a complete redraft where necessary, or smaller, less costly amendments can be implemented to address the specific needs of associations on a case by case basis. Some examples of amendments that can be addressed quickly include the drafting of maintenance standards, collection policies, late fee policies, insurance deductible allocation language and leasing restrictions affecting investor owners.