September 28, 2018

Condominium and Homeowners Association Budgets Must be Ratified

It's community association budget season!  Due to the recent implementation of WUCIOA (see my previous post about this here), all Washington State condominium and homeowners association budgets must be ratified by those associations' owners in order to take effect.  In order to comply with this requirement, associations must provide each proposed budget to the owners and schedule a meeting to consider ratification of that budget.  Budgets are considered ratified unless the owners of units to which a majority of the votes in the association are allocated reject the budget.

If your board has questions or concerns about compliance with state law or governing documents, then my office is here to help!