Watch the playback of the webinar from Friday, February 2, 2024 where our NJ-LAC Structural Integrity Task Force takes a deep dive into what this bill means.
Full PowerPoint presentation from the New Jersey Legislative Action Committee – Structural Integrity & Reserve Funding Webinar
One of the primary responsibilities of the board of directors of a community association is to protect, maintain, and enhance the assets of the association. To accomplish this objective, associations must develop multiyear plans to help them anticipate and responsibly prepare for ongoing preventive maintenance, periodic structural inspections, as well as for the timely repair and replacement of common area components such as roofs, roads, mechanical equipment, and other portions of the community’s common elements.
Following the tragic partial collapse of Champlain Tower South in Surfside, Fla., on June 24, 2021, CAI convened task forces to explore changes to laws and best practices for the community association housing model that may help other communities avoid this type of devastation and to provide solutions for legislators seeking to address building safety in their districts.
A regularly applied maintenance plan and program combined with a properly prepared and funded reserve study can lead to safe, desirable, financially secure community associations.
This report highlights: