Info Bytes 08.25.22

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CIC Info Bytes are frequent, succinct updates that provide educational and engagement opportunities to help your community thrive!

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We ask the tough questions and give you the answers: view results of over a dozen surveys focused on common interest communities.  

💰   RATES   💰


What’s your Reserve Fund’s Average APR?

Fidelity Fixed Income, CDs and Bonds Page
4-week T-Bill Rate

🏁   NOMINATIONS   🏁


WSCAI (WA State Chapter) is seeking candidates for its Board


Resource Updates


   FEDERAL + STATE STATUTE LOOKUP    


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📰    PUBLICATIONS   📰 


We’ve updated our Publications page to make it even easier to use. 


Discussion Highlights


Why So Many Common Interest Communities Need Help


The General Assembly finds as follows:


<<<>>> Managing condominium property or common interest community property is a complex responsibility.


<<<>>> Unit owners AND persons charged with managing condominium property or common interest community property may have little or no prior experience in managing real property, operating a not-for-profit association or corporation, complying with the laws governing condominium property or common interest community property, and interpreting and enforcing restrictions and rules imposed by applicable instruments or covenants.


<<<>>> Unit owners may not fully understand their rights and obligations under the law or applicable instruments or covenants.


<<<>>> Mistakes and misunderstandings are inevitable and may lead to serious, costly, and divisive problems.


<<<>>> Effective education can prevent or reduce the severity of problems within a condominium or common interest community.


<<<>>> Anecdotal accounts of abuses within condominiums and common interest communities create continuing public demand for reform of condominium and common interest community property law.


<<<>>> This results in frequent changes to the law, making it difficult to understand and apply, and imposes significant transitional costs on these communities statewide. 


<<<>>> By collecting empirical data on the nature and incidence of problems within these communities, this Act will provide a sound basis for prioritizing reform efforts, thereby increasing the stability of condominium and common interest community property law. 

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A Note About Ukraine

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