Even though there are pending actions in Congress to limit the Corporate Transparency Act, at this time, HOAs and board members must comply with the beneficial ownership information (BOI) reporting requirements in an accurate and timely manner to avoid civil and criminal penalties, such as a $500 daily fine and prison, says attorney Greg Kerr of the CAI Nevada Chapter. CAI is advocating for efforts that will unburden HOAs of the BOI mandate since HOAs most likely weren't the focus of the federal government's plan to prevent financial crimes.

Ongoing litigation over short-term rentals in a Pennsylvania HOA of 3,660 homes reflects a national trend in which boards are faced with balancing part-time residents' desire to make money from their properties and the interests of full-time residents who want a 100% "residential" community. In 2022, residents voted to limit the number of times a home can be rented out annually to 10, but the amendment hasn't been implemented because of the lawsuit, leaving some residents feeling unsafe, hurt, upset and confused.

A new Colorado law, which impacts over half the state's population, prevents HOAs from banning fire-resistant building materials, but it allows them to place "reasonable restrictions" on the type of fencing owners can install. "Homeowners should be empowered to choose less flammable materials to safeguard their homes and save money on insurance, and now more homeowners will be able to better protect their home," Governor Jared Polis said.

New environmental regulations are set to affect New York City, including Local Laws 157 and 88, which mandate that co-ops and condos install natural gas detectors and LED lighting, respectively. To meet the compliance requirements, boards need to ensure that their LED lighting and wiring are the proper types, choose detectors that are least likely to produce a false alarm and notify owners about the changes, according to an attorney.

There are three key leadership lessons that Fred Ende, director of curriculum and instructional services for Putnam/Northern Westchester BOCES in Yorktown Heights, N.Y., shares in this blog post related to prioritizing, decision-making and self-care. Ende writes that leaders should reconsider their relationship with time, understand the power of saying no and balance caring for others and oneself.

For the first time in several years, more workers prefer hybrid work (29%) to remote work (23%), according to a new Morning Consult "State of Workers" survey. Hybrid work is especially popular among Gen Z and Millennials, though only 12% of survey respondents said they have a hybrid job.

Do you need continuing education for your CMCA renewal? CAMICB now accepts volunteer hours as continuing education! This includes volunteering for your association board, advocating for community associations, and more. Learn more about how to obtain approval to use your volunteer time toward your CMCA renewal on the List of Approved Continuing Education.