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The developer may reserve the proper so as to add additional property to that which has been submitted to the provisions of this Act, and in the event of any addition, to reallocate share interests in the widespread components in accordance with the provisions of this Act and the condominium devices by: recording an amended plat in accordance with the provisions of Part 5 of this Act, along with an modification to the declaration in accordance with Part 6 of this Act.
In lieu of, or in addition to, the physical posting of meeting notices, the association may, by cheap rule, undertake a procedure for conspicuously posting and repeatedly broadcasting the notice and the agenda on a closed-circuit cable tv system serving the condominium association. When people actually want to avoid the law, they can do it with out challenge.
Additionally, if inflation rises, your value of borrowing stays capped while your rental revenue can probably rise in keeping with inflation â€” this is how actual estate investors can generate income sooner or later. Based in 2004 and headquartered in Boston, Massachusetts, Buildium gives easy-to-use, affordable cloud-based mostly property administration software solutions to property managers and community associations.
I. All contracts or transactions between the association and any director, officer, company, agency, or association that isn’t an affiliated condominium association or another entity by which an association director is also a director or officer and financially involved. Typically, a condominium proprietor does not own the land, however quite the building or unit situated on or above the land.