Series focusing on the ever-changing economic landscape HOAs face PAGE 20
MARCH 2025
MISSION STATEMENT
Fostering a better quality of life in community associations through education, advocacy and networking.
Echo 5669 Snell Ave., #249 San Jose, CA 95123 408.297.3246 | info@echo-ca.org www.echo-ca.org
BOARD OF DIRECTORS & OFFICERS
PRESIDENT
Adam Haney, CPA
VICE PRESIDENT
Mark T. Guithues, Esq.
TREASURER
David Levy
SECRETARY
Brian Campisi
DIRECTORS
Rolf Crocker
Sarah Dunia
J. Spencer Edgett, Esq.
John Gill, Esq.
Nathan McGuire, Esq.
Ali Nekumanesh
Louis J. Sarmiento, Esq.
Kelly Zibell
EMERITUS BOARD MEMBERS
David Hughes Karl Lofthouse
BENEFACTOR MEMBERS
Donald W. Haney, CPA CID Consortium, LLC
Paul Collins Collins Management
CHIEF EXECUTIVE OFFICER
David Zepponi | dzepponi@echo-ca.org
OPERATIONS MANAGER
Connor Zepponi | connor@echo-ca.org
MEMBERSHIP & SALES MANAGER
Jacqueline Price | jprice@echo-ca.org
MEMBERSHIP DEVELOPMENT MANAGER
Leila Saeed | lsaeed@echo-ca.org
PUBLICATIONS EXPEDITOR
Pam Grove | pgrove@echo-ca.org
MEMBER ENGAGEMENT COORDINATOR
Jared Giguere | jared@echo-ca.org
The Echo Journal is published quarterly by the Executive Council of Homeowners (Echo). The views of authors expressed in the articles herein do not necessarily reflect the views of Echo. We assume no responsibility for the statements and opinions advanced by the contributors to the magazine. It is released with the understanding that the publisher is not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. Acceptance of advertising does not constitute any endorsement or recommendation, expressed or implied, of the advertiser or any goods or services offered. We reserve the right to reject any advertising copy or image.
Echo member information is never released to any outside individual or organization, unless agreed to by the member.
HOA Education On Demand!
Get more from your Echo membership
Echo members have exclusive access to our entire library of HOA-focused educational programming including Community Conversations, Educational Seminars, Workshops, Ask the Attorneys, and Ask the Experts.
The presentations referenced below are a sampling of what is available to our valuable members. Click a title to watch!
Selecting and Working with an HOA Attorney
Elections: Notices, Ballots and Legal Requirements
Governing Documents: Is It Time to Update?
Community Crime – Prevention and Safety
Ask the Experts: Construction and Maintenance
Discrimination: Cultural Sensitivity & Reasonable Accommodations
All Things Paving Privacy, Cameras, & Recordings ... What Can We Do?
COLLEEN MONTOYA
Join like-minded colleagues and learn what is needed to prepare an individual for board service or to better serve your HOA clients.
The program covers the essentials, including the HOA legal environment, fiduciary responsibilities and duties, financial management and reserves, meetings (planning and management), election procedures, board ethics, and soft skills needed to deal with people. The curriculum is brought together with a capstone course on the role of HOA vision, mission, strategy, and core values in common interest developments.
The courses will be available in various formats including workshop, lecture, and lecture/lab. Faculty has been recruited from the most successful and knowledgeable companies in the industry. Currently, eight of the ten courses will be recorded and available on demand. All courses will be offered live via webinars. Two workshops require live, online participation: HOA Board Ethics and the capstone strategy course.
Participants will be given three years from the date of enrollment to satisfactorily complete the ten courses and successfully pass the exam for each course with a score of 70% or better. The examinations will be designed to cover the basic knowledge and skills discussed in the course and to encourage the internalization of the curriculum. After successfully completing the examinations, participants will be awarded a certificate of successful completion of the Echo Board Member Preparedness Program. This is a lifetime certificate and will be noted in the permanent Echo records.
Board Member Preparedness Certificate Program Curriculum
Good Governance Series (100 series)
100 Leadership & Governance
101 Elections, Voting, and Candidacy
102 Meetings and Best Practices
103 Board Evaluation of HOA Management
HOA Legal Environment Series (150 series)
150 Ask the Attorney: Davis-Stirling Act Overview
151 Ask the Attorney: Laws Other than the Davis-Stirling Act
152 Ask the Attorney: Judicial InterpretationHOA Case Law
Board Ethics (120 Series)
120A Foundations of HOA Ethics Workshop
120B Ethics in Practice Workshop
HOA Financial Management & Reserves (170 Series)
170 HOA Financial Management & Reserves
HOA Board Member Preparedness Capstone Course (199)
199 A Strategic Approach to HOA Management
To enroll or learn more about the program, contact Connor Zepponi, connor@echo-ca.org, or visit www.echo-ca.org and click on the Echo HOA University program tab.
ACADEMIC DEAN’S CIRCLE SPONSORS
Board Decision Making: Who to Believe?
Raison d’Etre – The Reason for Boards
Board members are confronted with difficult decisions, and often the decision-making process is unclear or flimsy. Boards conducting investigations frequently receive information and proposals from many sources to make rulings or important community business decisions. How can board members improve the process, parse through the multitude of sources and statements, weigh the information, and rely on the data to make good, fair, and consistent decisions? There is a simple solution in this regard, and it can be particularly useful in making helpful and defensible decisions.
What a beautiful phrase, raison d’etre (reason for being). It is a every board member should consider and collectively agree.
The phrase engenders humanity. The words roll from one’s tongue. stark business senses and adds the element of humanity to the a board: Strategic planning, execution and evaluation; mission management. The business realities should be reflective of community common values of individuals in the community.
A long while ago, when I was an MBA student at the University of Illinois, a law school professor, John Kindt, taught me three important principles to evaluate information (evidence) in a world fraught with misinformation and missing facts. It is a lesson that has proven its worth many times in my life and career. When a board must adjudicate or make a decision, it receives evidence or information from many parties to decide. The amount of information is often dizzying and of varying quality and can create a fog that distracts from making an informed and good decision. It is a challenge, and without a reasonable process it can be difficult to determine what is important and useful and what isn’t.
I use a simple mnemonic to remember the principles to follow, digest, and sort information and make good business decisions. The ARC Rule (yes, like Noah’s) has stuck with me for more than 30 years, and it has served me well. Below is a list of its key components and how it works. When making decisions, one must consider the information/evidence at hand and weigh it according to these principles:
Authoritativeness of the source
Communities are imperfect – because they are made of humans. relating. Humans using. Human living. Basically, humans being being human, communities sometimes forget that management establish norms for a successful community. In a sense, the board the community. Its purpose is to establish order and elevate or progress and pace by establishing norms and constraints to balance to benefit all.
Relevance of the information to the issue at hand
Currentness of the information
Authoritativeness: Does the information come from an expert and trustworthy source? More weight should be given to those who have training or expertise in the topic of the decision to be made. For example, attorneys are experts in law, but which attorney is best suited in an HOA rules dispute if one is an international patent attorney and the other is an HOA attorney? Likely the HOA attorney.
It seems apparent that board leadership must understand and owners in order to orchestrate a sense of community and generate and protect community values. The purpose of a board, therefore, build community based on common values for the good of all.
It takes time to orchestrate a community. It takes time to know your time to listen to the voices and build a vision reflective of community and you will be more effective as a board member and satisfied your reason for being on the board.
If the action is related to a vendor, authoritativeness can often be validated by credentials, valid licensing, experience, and training/education. Is the vendor licensed and bonded? Do they hold a valid certification or membership backed by an association? When considering a manager, one might ask about training, certifications, and years of experience. Also, consider the “independence” of the person or source providing the opinion or information. A contractor is an expert in their field and may have a great proposal for a balcony replacement job, but is the information in the proposal independent of bias and can it be relied upon (trusted) for the board to make a wise decision? The information received is Continued on page 12
David Zepponi Executive Director ECHO CHIEF EXECUTIVE OFFICER
ECHO is committed to helping homeowner boards and residents ing and advocacy – this is our “raison d’etre”.
2025 IN-PERSON & ONLINE
2025 IN-PERSON & ONLINE EVENT CALENDAR
Laws Other than the
Managing a Well-Maintained
Mastering Your Paint Project: Planning, Management, and Execution
BY COLLEEN MONTOYA
Embarking on a painting project can be a transformative experience. It promises a fresh look and allows an HOA to enhance and maintain the community with renewed protection for its buildings. To ensure a smooth and successful outcome, careful planning and execution are essential. This article outlines a step-by-step process, focusing on key aspects such as selecting the right paint manufacturer, writing a scope of work, and obtaining accurate bids.
Selecting the Paint Manufacturer
Choosing the right company sets the foundation for a successful project. Here’s how to make an informed decision:
• Research and Reputation: Begin by researching paint manufacturers. Some of the more well-known brands in the HOA world are Sherwin-Williams, Behr, Dunn-Edwards, and Vista Paint. Look for quality, durability, and a wide range of color options.
• Quality vs. Price: While cost can be a factor, prioritizing quality is always recommended. High-quality paints offer better coverage, durability, and color retention, potentially reducing long-term maintenance costs. Quality paint often offers better and extended warranties.
• Consultation and Samples: Paint manufacturers all have showrooms, and specialists in those showrooms can discuss the needs of the project. Paint samples can be obtained for evaluation of color accuracy and finish options in the lighting conditions where the paint will be applied. Once the scope is confirmed, color renderings can also be created.
• Warranty and Support: Review warranty policies and after-sales support. A reputable manufacturer should stand behind their products and help if issues arise postapplication. Read carefully the warranty and the requirements for maintaining the warranty.
Writing a Scope of Work
A well-defined scope of work ensures clarity and alignment between the HOA board of directors, the homeowners and/or project manager, and the painting contractor. It also promotes peace of mind. The scope can and should be written by the paint manufacturer, as they are the experts. It should include the following elements:
1. Project Overview: Describe the project in detail, including the areas to be painted, surface
preparation requirements, and desired finish types (e.g., matte, satin, gloss). The size of the crew that will be on-site should be included in the proposal, as well as who will be responsible for oversight of the project.
2. Surface Inspection and Preparation: Specify expectations for surface cleaning, repairs (e.g., filling cracks, sanding), and priming.
3. Paint Specifications: Detail the type of paint to be used, including color codes and finish specifications for each area or surface, as well as how many coats to apply for each surface.
4. Timeline and Milestones: Outline project timelines, including bid walks (normally coordinated by the paint manufacturer), bid due dates, and planned start dates, along with any key milestones (e.g., drying time between coats).
5. Cleanup and Disposal: Define expectations for daily cleanup, disposal of waste materials, and restoration of work areas upon project completion.
Conducting “Apples-to-Apples” Bids
To ensure fair and accurate pricing from painting contractors, communities should provide detailed information. Each contractor should be given the same scope of work, paint specifications, and any relevant maps, drawings, or photos of the project area.
Separate itemized quotes may also be requested for areas the HOA board is not entirely sure they want to paint. This may include areas like carports, trash enclosures, light poles, pool fences, etc. It is also important to ensure that bids clearly state what is included and what is excluded. For example, most paint contractors will not include moving furniture or plants from balconies or patio areas.
Proper licensing and insurance are critical. Contractors need to be licensed, bonded, and insured, and should also list the community and any management company as an additional insured on a separate certificate. This protects the community from liability in case of accidents or property damage during the project.
References are also very important for the bidding process. Each contractor should be able to provide references confirming their experience with a similar
type
Tips for a Successful Paint Project
Once the project scope has been determined and the contractor is selected, there are still other aspects to consider. Depending on the time of year, flexibility in timeliness for unexpected delays due to weather should be allowed. Some painting contractors will offer a discount to paint in the offseason, but that can mean the project takes longer if there are more rainy days than normal.
Communication should be at the forefront with both the contractor and the residents of the community. The contractor should provide a clear schedule, as well as notices throughout the project. This informs the residents when the contractor may be painting their building, what they can expect from the contractor, and what they should be doing in preparation. The contractor should be the primary point of communication for the residents throughout the project.
The contractor should be prepared to hold regular meetings on-site to discuss the progress of the project, perhaps weekly or biweekly depending
on project size. A final walk-through should be completed with the contractor before the final payment is made, to make sure all work meets expectations.
By following these guidelines, HOAs can navigate a painting project with confidence, achieving professional results that enhance the aesthetic appeal and value of the community. Remember, meticulous planning and collaboration with reliable professionals are key to a successful outcome. Happy painting!
Colleen Montoya began her career in community management after receiving her degree from San Francisco State University. Recognized for her strategic vision and proactive approach, Colleen is a proven professional in the HOA industry and an expert in helping HOAs with their painting projects. As director of sales and client relations for Whit’s Painting, Colleen brings a passion for property management through a deep-seated interest in real estate and customer relations.
Adams, CIC VP / Commercial Producer
only as good and reliable as the person or source from which it comes. The more authoritative the resource, the more likely it is useful and can be relied upon.
Relevance: Does the information relate to the specific issue at hand? Let’s say a teenager is allegedly having parties and smoking on a common area balcony, allegedly in violation of the “no smoking in common areas” rule. A neighbor files a complaint with the board, and an investigation ensues. The parent of the supposed violator attends the investigation to defend the child. The parent presents the case, including “evidence” that the neighbor is a curmudgeon who often parks in the wrong spaces in violation of the parking rules, who doesn’t have children so they don’t understand teenagers and should mind their own business, and who just has it in for their kid. The assertion, claims the parent, is therefore specious, without merit, and should be dropped. Of course, none of these arguments has any direct bearing on the issue at hand, which is violation of the HOA no-smoking rule. Lacking relevance, the parent’s arguments should carry little or no weight in the decision.
Conversely, the neighbor who filed the complaint provides
photos of the teenager smoking with friends on the balcony. They show date-stamped videos of the smoke wafting onto their balcony and being sucked into their air conditioning intake duct and personal living space. On its face (i.e., prima facie), this evidence is unquestionably relevant and damning.
Currentness: Currentness refers to a chronological connection of the information/evidence for the issue at hand. For example, say a high-rise condominium is considering replacing windows, and they put out a request for proposals for highly efficient windows. They begin receiving proposals from contractors, and one proposes windows highly rated by the National Fenestration Rating Council (NFRC), based on a 1998 report. Another proposal from a different contractor is received, and the proposed windows are based on the 2023 NFRC efficiency rating report. Comparing the efficiency ratings of each results in striking differences. Using old information as if it was current information can (but doesn’t always) lead a board to a wrong decision.
Another example of the need to consider “currentness” that has become particularly acute lately is related to pricing of materials used in construction and maintenance projects. Inflation is
a killer for HOAs. It is becoming increasingly challenging to predict the price for raw materials like wood, cement, and paving material from the time of bid to the actual time of the work. This has become so problematic that even the contractors who are very close to costs are finding it difficult to predict raw material and labor costs. To deal with this issue, contractors often add a clause that provides for an adjustment to the project cost based on the current paid price for the materials or labor at the time of work. An unsettled economy with rapid shifts in trade agreements with key source countries like Canada, Mexico, Vietnam, and China can cause abrupt changes in material and labor costs. Applying the ARC Rule gets the best information as close to the time of the project or decision as possible. In general, the more current the information, data, or evidence is in the proposal, the more reliable and useful it is from which to make the decision.
It is good to have a decisionmaking process, and sometimes simple is better. The ARC Rule is a simple way to consider evidence and information received and gives the board a solid process by which to make good, defensible decisions. Showing rigor in decision making speaks to the community and adds a level of professionalism that will be appreciated by homeowners and professionals alike. The ARC Rule can be used for most decision making, to encourage boards to focus on the issue at hand while helping them analyze and sift the wheat from the chaff.
TWO GREAT AMERICAN EXPERIMENTS
BY BRIDGETTE TABOR
The “Great American Experiment” refers to the unique and ambitious founding principles of the United States as a democratic republic. It underscores the idea that our nation was built on an experiment in self-governance, one that diverged radically from the monarchies, empires, and aristocracies that dominated the world in the 18th century.
The idea traces back to the American Revolution (1775–1783) and the founding documents such as the Declaration of Independence (1776) and the Constitution (1787). These works enshrined ideals like liberty, equality, and the consent of the governed. Key thinkers like Thomas Jefferson, James Madison, and Alexander Hamilton framed our new nation as a bold attempt to prove that a government “of the people, by the people, for the people” could function effectively and justly.
The Second Great American Experiment: HOAs and Self-Governance
The “Great American Experiment” also refers to the United States’ founding as a nation grounded in democracy, self-rule, and the rule of law. This experiment, which began with the framing of the Constitution, continues to test whether a government of the people, by the people, and for the people can endure and thrive. A modern iteration of this principle can be found in the structure and functioning of homeowners associations (HOAs), a localized form of governance within private communities. Dubbed by some as the “Second Great American Experiment,” HOAs embody many of the same principles as the original experiment, including self-governance, adherence to a constitutional framework, representation, and the balancing of individual rights with the common good.
This article explores the similarities between the two experiments, focusing on the frameworks, the guiding principles, and the challenges faced by implementation.
Framework of Governance: Constitution and Covenants
The United States Constitution serves as the foundation for the American Experiment, establishing a framework of governance based on separation of powers, checks and balances, and a set of fundamental rights. Similarly, HOAs
operate under governing documents, including covenants, conditions, and restrictions (CC&Rs), bylaws, and rules, which serve as the “constitution” of the community. Both frameworks are written documents that define the scope of authority, rights, and responsibilities of the governing body and the governed.
1. Codified Rules and Regulations – Just as the Constitution outlines the powers of the federal government and the rights of citizens, an HOA’s CC&Rs delineate the rules for property use, maintenance, and community standards. In both cases, these documents are meant to provide clarity and ensure order within the community. For example, the Constitution’s Supremacy Clause establishes that federal law overrides conflicting state laws, much like an HOA’s CC&Rs take precedence over individual homeowners’ preferences.
2. Amendments and Flexibility – Both frameworks are designed to be adaptable over time. The U.S. Constitution allows for amendments to address societal changes, such as the abolition of slavery or the extension of voting rights. Similarly, HOAs can amend their governing documents through processes involving homeowner votes. This flexibility ensures that the governing framework remains relevant to the needs of its constituents.
3. Governance by Representatives – Both systems rely on representative governance. In the U.S., elected officials represent citizens at local, state, and federal levels. In HOAs, a board of directors, elected by the homeowners, makes decisions on behalf of the community. These representatives are tasked with balancing individual interests with the collective good, ensuring that governance reflects the will of the majority while protecting minority rights.
Principles of Self-Governance and Community
One of the defining features of both the American Experiment and HOAs is the principle of selfgovernance. In both cases, the governed are also the governors, fostering a sense of responsibility and accountability within the community.
Continued on page 16
Two Great American Experiments
Continued from page 15
1. Democratic Decision Making – The United States operates as a representative democracy, where citizens vote for leaders and policies. Similarly, HOAs are democratic in nature, with homeowners voting on board members and, in some cases, significant decisions affecting the community. This participatory process ensures that governance reflects the will of the majority while offering a platform for dissenting voices.
2. Balancing Individual Rights with the Common Good –The American Experiment emphasizes individual liberty, but it also recognizes the need for limitations to protect the common good. For example, freedom of speech is protected, but that does not permit incitement to violence. Similarly, HOAs enforce rules that may restrict individual
property owners’ rights (e.g., prohibiting certain exterior modifications) in order to maintain property values and community aesthetics. This balance between individual rights and collective interests is central to both governance models.
3. The Rule of Law – Both systems operate on the principle of the rule of law, meaning that all members of the community are subject to the same rules and regulations. In the U.S., this principle ensures that no individual, regardless of status, is above the law. In HOAs, homeowners and board members alike must adhere to the governing documents, fostering fairness and consistency.
4. Shared Responsibility – In both experiments, individuals are expected to contribute to the community’s well-being. In the U.S., this might involve
paying taxes, serving on juries, or participating in civic life. In an HOA, homeowners contribute through dues, participation in meetings, and sometimes volunteering for committees or projects. This shared responsibility reinforces the idea that governance is a collective endeavor.
Challenges and Criticisms
While the American Experiment and HOAs share many strengths, they also face similar challenges, particularly in balancing competing interests, ensuring fairness, and addressing dissent.
1. Enforcement of Rules – In both systems, enforcing rules can be contentious. In the U.S., debates over laws and their enforcement often highlight tensions between federal and state authority or between individual rights and public safety. In HOAs, enforcement of CC&Rs can
lead to disputes between homeowners and the board, particularly when homeowners perceive the rules as overly restrictive or inconsistently applied.
2. Representation and Power Dynamics – Both systems grapple with issues of representation and power. In the U.S., concerns about gerrymandering, lobbying, and unequal access to resources can undermine faith in the democratic process. Similarly, in HOAs, board members may be accused of favoritism, overreach, or lack of transparency. These issues underscore the importance of checks and balances in both governance models.
3. Inclusivity and Participation – The American Experiment has historically struggled with inclusivity, from the disenfranchisement of marginalized groups to voter suppression. HOAs can face similar issues if certain homeowners feel excluded from decisionmaking processes or if the rules disproportionately impact specific residents. Encouraging active participation and ensuring equitable treatment are ongoing challenges for both systems.
4. Financial Accountability –Both governance models rely on financial contributions from their constituents. In the U.S., taxes fund public services and infrastructure, while in HOAs, dues cover
maintenance, amenities, and other community needs. Mismanagement or perceived unfairness in the allocation of these funds can lead to dissatisfaction and mistrust.
Evolution
and Adaptability
A key similarity between the American Experiment and the HOA model is their capacity for evolution. Both systems are designed to adapt to changing circumstances and needs, ensuring their relevance and effectiveness over time. The U.S. has evolved significantly since its founding, addressing issues such as slavery, women’s suffrage, and civil rights through constitutional amendments and legislation. HOAs, too, must adapt to shifts in homeowner demographics, preferences, and legal requirements, often revising their governing documents to reflect these changes.
Conclusion
The concept of HOAs as a self-governance model aligns closely with the principles and framework of the Great American Experiment. Both systems are rooted in the idea of governance by and for the
people, emphasizing democratic decision making, adherence to a constitutional framework, and the balance of individual rights with the common good. While each faces unique challenges, their shared commitment to adaptability and community underscores the enduring relevance of self-governance as a cornerstone of American life. By examining the similarities between these two experiments, we gain a deeper appreciation for the principles that unite them and the challenges they must navigate to succeed.
Currently a commercial agent with LaBarreOksnee in Aliso Viejo, California, Bridgette Tabor has been a licensed insurance agent for 20 years. Prior to her career in insurance, Bridgette spent 20 years as a legal assistant for several large law firms. She obtained her insurance license in 2003 and moved from health insurance to property and casualty insurance in 2010, specifically focused on common interest developments. She now works to help individuals, businesses, and organizations protect their assets, manage risks, and navigate the complex world of insurance. In addition, she has served on the board of Scripps Ranch and on a national HOA industry association board.
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Educational Seminars
Learn from an acclaimed faculty delivering essential knowledge for HOA boards and homeowners.
• Ask your questions of on-site attorneys
• Visit with industry experts at exhibit tables
• Meet and connect with board members from neighboring communities
See the 2025 Event Calendar (page 7) for the dates of upcoming Educational Seminars.
Click a button or use the link to sign up to receive information on Resource Panel meetings near you!
Come and reconnect with your peers and attend an upcoming Resource Panel in your region. These events are held in a casual atmosphere to enable homeowners, board members, managers, and other professionals to hear about important topics presented by experts in the HOA industry. Click a Resource Panel meeting location below to sign up to receive information.
The Echo Club at Rossmoor (TECAR)
4/1 Sacramento Resource Panel 11:30 am – 1:30 pm
4/2 TECAR – The Echo Club at Rossmoor 9:30 am – 11:30 am
4/2 San Francisco Resource Panel 5:30 pm – 7:30 pm
4/3 East Bay Resource Panel 11:30 am – 1:30 pm
4/8 Los Angeles Resource Panel 11:30 am – 1:30 pm
4/9 Orange County Resource Panel 11:30 am – 1:30 pm
4/10 San Diego Resource Panel 5:30 pm – 7:30 pm 4/22 Wine Country Resource Panel 11:30 am – 1:30 pm 4/23 North Bay Resource Panel 11:30 am – 1:30 pm 4/23 San Francisco Resource Panel 5:30 pm – 7:30 pm
5/6 South Bay Resource Panel 11:30 am – 1:30 pm
5/7 San Pablo Bay Resource Panel 11:30 am – 1:30 pm TBA Central Coast Resource Panel 11:30 am – 1:30 pm
HOA Economics Corner
BY GAUTAM GAUBA
The views expressed in this article are the personal views of the author and should not be construed as financial advice.
In an ever-changing economic landscape, homeowners and homeowner associations (HOAs) face numerous financial challenges. To help our readers stay informed and prepared, Echo is launching a series of articles focused on economic issues. Inflation, interest rates, and regulation are just a few areas that can have a significant impact on HOAs and their residents. This first installment examines recent tariff announcements and explores their potential effect on HOAs.
Recent Economic Developments
Recent tariff measures announced by the current White House administration can be broadly classified into two categories:
1. Country Specific: On February 1, fact sheets1 released by the White House detailed the imposition of tariffs under the International Emergency Economic Powers Act. These measures introduced a 25% additional tariff on imports from Canada and Mexico while imposing a 10% tariff on imports from China. Notably, energy resources from Canada are subject to a reduced tariff of 10%. Although the 10% tariff on Chinese imports took effect on February 4, tariffs on Canada and Mexico have been postponed until March 4 as negotiations continue.
2. Product Specific: On February 11, additional proclamations were signed to close existing loopholes and restore a full 25% tariff on steel, while also elevating the tariff on aluminum to 25%. These product-specific measures are scheduled to take effect on March 12, 2025. These changes reflect a broader strategy aimed at protecting domestic industries amid global trade challenges.
Market Reaction and Economic Outlook
Market responses to these developments have been notable. A monthly survey conducted by the University of Michigan2 revealed that consumer sentiment fell nearly 10% from January, partly because of concerns over imminent tariff-induced price increases. In tandem, consumer expectations for price adjustments over the next year rose from 2.6% to 4.3% within a few months.
Despite the Federal Reserve’s decision to reduce the federal funds target rate by 100 basis points (equivalent to 1%) since September of the previous year, long-term bond yields have remained elevated. For instance, both the 10-year and 30-year bonds are at elevated levels, comparable to the era before the dot-com crash (30-year Treasury yield recorded at 4.76% as of February 19, 2025). This persistence in higher yields suggests that investors are bracing
for an inflationary environment – a factor that could have far-reaching effects on various sectors of the economy.
Economic Implications for Homeowners Associations
HOAs are uniquely positioned at the intersection of these global economic shifts and everyday operational challenges. Many essential products and services – ranging from construction materials to maintenance supplies – depend on imported goods. For example, approximately 60% of U.S. crude oil imports originate from Canada.3 Tariffs on Canadian oil may therefore indirectly influence the cost of goods across multiple sectors by driving up transportation expenses.
Specific products used in the maintenance and repair of residential properties may be directly affected by the new tariff measures:
• Lumber: A critical component in home construction and repairs (e.g., decks), much of the lumber used in the United States is imported from Canada.
• Asphalt: With Canada serving as a major exporter of asphalt, any increase in tariffs could result in higher costs for road resurfacing, driveway repairs, and other paving projects.
• Landscaping Materials: Fertilizer, mulch, soil, and similar products, much of which is imported from Canada and Mexico, could see price hikes that impact landscaping and garden maintenance budgets.
• Steel and Aluminum: Commonly used in roofing, fencing, railings, and balconies, these materials are directly subject to the new tariff increases, potentially escalating costs for roof replacements and structural repairs.
Additionally, other essential materials – such as cement and finishing materials (including ceramic
Continued on page 22
and porcelain tiles for flooring and lighting fixtures) – may also experience cost pressures. These factors combined underscore the importance for HOAs to anticipate and plan for potential budgetary impacts.
Strategies for Mitigating Economic Impact
Given the uncertainty surrounding the implementation of these tariffs and the potential for rising costs, HOAs should prepare for a period of volatility and cost inflation. Taking proactive steps to manage expenses and optimize revenue will help associations better weather economic challenges and maintain long-term financial stability.
There are several proactive steps that HOAs can take:
1. Cost Management
• Preventive Maintenance: Regular upkeep of critical systems such as roofs, plumbing, and HVAC can prevent the need for emergency repairs, thereby avoiding unexpected expenses.
• Early Vendor Engagement: Initiating discussions with vendors and suppliers well in advance allows HOAs to gain transparency in pricing and better plan for upcoming projects.
Establishing fixed-price agreements where possible can also help in budgeting for future repairs or renovations.
• Obtaining Multiple Quotes: Soliciting bids from various vendors not only promotes competitive pricing but also enables associations to identify cost-effective alternatives for maintenance and repair projects.
2. Revenue Enhancement
One way to mitigate the impact of rising costs is to increase revenues. Apart from raising member assessments, what are some ways to increase revenues?
Investment income is an often-overlooked area for enhancing revenues for HOAs.
Lack of a structured investment management process results in a “cash bias” for most HOAs. A cash bias refers to the situation where an HOA has higher cash amounts than are required for its short-term needs. This results in the HOA losing out on income it could have earned had it invested the excess cash in an appropriate investment product (e.g., certificate of deposit).
In the low-interest-rate environment that existed from the time of the financial crisis
(2008) to 2022, having a cash bias did not hurt an HOA’s income by much. However, in the current environment, with rates over 4%, having a cash bias means HOAs are losing out on precious income, income that could help mitigate increases to member contributions and the risk of special assessments.
So how can board members ensure that returns on HOA investments are maximized?
Working with a professional not only helps ensure that an HOA is earning a judicious return on its investments, but it is also critical to mitigate the fiduciary risk that boards face in managing the association’s investments.
However, it is very important that boards conduct their due diligence in selecting a professional to work with. It is critical to assess the professional’s approach to investment management.
• How often will they review the HOA’s investments?
• Do they follow a reactive approach (i.e., they only review when an existing investment
matures) or a proactive approach (with multiple reviews on an annual basis)?
• What is their approach to identifying amounts to invest and the duration to invest for?
Surprisingly, answers to the above questions will vary across providers, and it is best to talk to a few to get a better understanding of the offerings available in the market. Small tweaks to the investment approach can result in a significant uplift in the returns, while investing in the same risk-free products (e.g., FDIC-insured CDs or U.S. government-backed Treasuries).
And as always, it is a good idea to stay abreast of the latest offerings in the industry. Echo provides resources, available free or at low cost to its members, to connect with professionals and attend informative events. The Board Members Club at Echo is a great way to connect with fellow HOA board members and exchange best practices.
Conclusion
The recent tariff announcements, coupled with observable market trends, highlight the pressing
Continued on page 24
Echo Board of Director Candidacy and Election Announcement
Echo will conduct the annual election of its board of directors in early fall. The results of the election will be announced at the Echo annual membership meeting, which will be held on November 20, 2025, from 9:00 to 9:15 a.m. The meeting will be online only. Candidate nomination application forms can be requested via the following email: elections@echo-ca.org For the application to be considered by the Echo nominating committee, it must be completed and received by Echo no later than 5:00 p.m. on July 31, 2025.
For more information, contact Dave Zepponi at dzepponi@echo-ca.org
need for homeowner associations to remain agile in the face of a shifting economic environment. By understanding the direct and indirect effects of these tariffs, HOAs can better anticipate potential cost increases. Moreover, by implementing proactive cost management and revenue enhancement strategies, associations can mitigate these economic pressures and maintain fiscal health.
Footnotes:
1. Fact sheet (Whitehouse.gov)
2. University of Michigan Institute of Social Research (data for January 2025)
3. EIA.gov
Gautam Gauba is the founder of Gallopify, an investment management platform specifically designed for HOA board members and property managers to analyze data in order to enhance their investment income. He has nearly two decades of industry experience in banking and management consulting and has advised Fortune 500 clients on various strategic initiatives. Gautam will be writing on other topics in this series in the future. If you have a specific economic concern or question you would like to see addressed in a future article, please contact him at gautam.gauba@gallopify.com.
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ECHO LEGISLATION TRACKER
MARCH 2025
BY NATHAN McGUIRE, ESQ.
2025 is here, and with it, a new two-year legislative session in California. At the start of the session, 29 newly elected senators and assemblymembers were sworn in. The legislature is now composed of a record number of women (49%), with 37 in the assembly and 21 in the senate. Democrats still hold supermajorities in both the assembly (60-19) and the senate (30-9), making California one of 40 trifectas (where one political party controls both chambers of the legislature and the governor’s seat) in the United States. Only 10 states (a record low) have divided governments.
One of the first actions of legislative leadership was to lower the allowable number of bills that can be introduced by each legislator. The new cap is 35, down from 50 in the assembly and 40 in the senate. There will be no shortage of bills to track; 2,491 bills were introduced by the February 21 deadline.
Looking back, last year was a great year for HOAs. Most of these bills (covered in previous articles) took effect on January 1, 2025. The highlight was AB-2149, which finally brings the option of electronic voting to HOAs. And, unlike in some recent years, there weren’t any misguided bills to struggle with.
With nearly 2,500 bills, it will take some time for legislators and everyone else to sift through and determine which bills might impact HOA communities. And to make matters worse, even though the bill introduction deadline has passed, existing bills can be “gutted and amended” to completely change the language, even to a completely different topic. It is common for legislators to purposely introduce bills they have no intention of pushing, or to conscript a bill that isn’t moving, in case they need a vehicle for running a new bill. As a result, things can change quickly.
PENDING CALIFORNIA BILLS
Here are a few of the bills Echo is looking at:
AB-6 (WARD) - RESIDENTIAL DEVELOPMENTS: BUILDING STANDARDS, REVIEW: Existing law (the California Building Standards Law) establishes
the California Building Standards Commission (commission) within the Department of General Services. This bill would require the department to convene a working group no later than December 31, 2026, to research and consider identifying and recommending amendments to state building standards allowing residential developments to be built, as specified. The bill would require the department, no later than December 31, 2027, to provide a one-time report of its findings to the legislature in the annual report described above. The bill, if the report identifies and recommends amendments to building standards, would require the department to research, develop, and consider proposing standards for adoption by the commission, as specified. For the purposes of these provisions, the bill would authorize the department to exceed the scope and application of the International Residential Code to allow residential developments of between 3 and 10 units to be designed and constructed under the requirements of the California Residential Code. The bill would additionally require the department to perform a review of construction cost pressures for singlefamily and multifamily residential construction because of new or existing building standards and provide its findings to the legislature in its abovedescribed annual report on or before December 31, 2026. The bill would require the department to perform the same review every three years to revise or update standards, as needed, to reduce construction costs, as specified.
AB-462 (LOWENTHAL/RIVAS) - LAND USE: COASTAL DEVELOPMENT PERMITS, ACCESSORY DWELLING UNITS: The California Coastal Act of 1976, which is administered by the California Coastal Commission, requires any person wishing to perform or undertake any development in the coastal zone, as defined, to obtain a coastal development permit from a local government or the commission, except as provided. Existing law specifies that the abovedescribed provisions governing accessory dwelling units do not supersede or in any way alter or lessen the effect or application of the California Coastal Act of 1976, except as specified. This bill would exempt
the construction of an accessory dwelling unit located within the County of Los Angeles, and in any county that is subject to a proclamation of a state of emergency made by the governor on or after February 1, 2025, from the need to obtain a coastal development permit, as specified.
AB-739 (JACKSON) - COMMON INTEREST DEVELOPMENTS: MANAGING AGENTS, REAL ESTATE BROKER LICENSE: This bill would require a managing agent of a common interest development to hold a real estate broker license issued by the state.
AB-1154 (CARRILLO DONO) - ACCESSORY DWELLING UNITS: JUNIOR ACCESSORY DWELLING UNITS: This bill would prohibit a local agency from imposing any parking standards if the accessory dwelling unit is 500 square feet or smaller. Under this bill, that owner-occupancy requirement would apply only if the junior accessory dwelling unit has shared sanitation facilities with the existing structure. The bill would require an ordinance that provides for the creation of a junior accessory dwelling unit to require that a rental of a junior accessory dwelling unit be for a term longer than 30 days.
AB-1240 (LEE/PEREZ) - SINGLE-FAMILY RESIDENTIAL REAL PROPERTY: CORPORATE ENTITY, OWNERSHIP: This bill would prohibit a business entity, as defined, that has an interest in more than 1,000 single-family residential properties from purchasing, acquiring, or otherwise obtaining an ownership interest in another single-family residential property and subsequently leasing the property, as specified.
SB-9 (ARREGUIN) - ACCESSORY DWELLING UNITS: OWNER-OCCUPANT REQUIREMENTS: This bill would prohibit a local agency from imposing an owner-occupant requirement for a proposed or existing accessory dwelling unit, whether or not the local agency has adopted a local ordinance pursuant to these provisions.
SB-448
(UMBERG) - TRESPASSING: REMOVAL OF TRESPASSERS
ON RESIDENTIAL PROPERTY:
This bill would prescribe a procedure for the notice and removal of a squatter by a local law enforcement agency. The bill would authorize a property owner or their agent to serve a demand to
vacate, as specified, upon a squatter. The bill would authorize the owner or agent, after service of the demand, to submit a request, signed under penalty of perjury, to the local law enforcement agency with primary jurisdiction where the property is located, as specified. This bill would require the law enforcement agency, upon receipt of the request, to verify the request and, upon verification, to remove the unlawful occupants from the property without unreasonable delay, as specified.
SB-546 (GRAYSON) - COMMON INTEREST DEVELOPMENTS: ACCOUNTING:
Existing law requires the board of directors of a nonprofit corporation or unincorporated association created for the purpose of managing a common interest development to, on a monthly basis, review specified documents, including account statements, reconciliations, and ledgers, unless the association’s governing documents impose more stringent standards. Existing law authorizes those review requirements to be met when every individual member of the board, or a subcommittee of the board consisting of the treasurer and at least one other board member, reviews the documents and statements independent of a board meeting, so long as the review is ratified at the board meeting subsequent to the review and that ratification is reflected in the minutes of that meeting. This bill would repeal those provisions authorizing the review requirements to be met when individual members or a subcommittee of the board review the documents and statements independent of a board meeting as described above.
SB-614
(STERN) - POTABLE WATER:
NONFUNCTIONAL TURF: Existing law prohibits the use of potable water, as defined, for nonfunctional turf located on common areas of properties of homeowners associations, common interest developments, and community service organizations or similar entities, starting January 1, 2029. This bill would prohibit that use of potable water one year earlier.
SB-570
(ALVARADO-GIL) - COMMON INTEREST DEVELOPMENTS:
The Davis-Stirling Common Interest Development Act governs the management and operation of common interest developments. This bill would make a nonsubstantive change to the provision specifying the act’s title.
Continued on page 30
SB-750
(CORTESE) - CALIFORNIA RESIDENTIAL MORTGAGE INSURANCE ACT: Cal REMIA would establish the California Residential Mortgage Insurance Fund in the State Treasury and would continuously appropriate moneys in the fund to the agency for the purpose of insuring construction loans and permanent loans and providing credit enhancements under the program and for the purpose of defraying administrative expenses incurred by the agency in operating and implementing the program.
SB-811 (CABALLERO) - COMMON INTEREST
DEVELOPMENTS: DOCUMENT DELIVERY: Existing law makes delivery of a document under the DavisStirling Act complete upon either its deposit into the United States mail or upon electronic transmission. This bill would make a nonsubstantive change to those provisions.
Please reach out if there are others, or if you have comments or information about any of these bills.
CORPORATE TRANSPARENCY ACT
On the federal side, two bills (H.R. 425 and S. 100) that would repeal the Corporate Transparency Act (CTA) were introduced in January. As of February 18, the beneficial ownership information filing requirement has been reinstated, and the Financial Crimes Enforcement Network (FinCEN) has issued a new reporting deadline of March 21, 2025, for most entities. Conservatively, entities that are required to report should plan to file by March 21 if they haven’t already.
That said, a lot is up in the air:
COURT INTERVENTION: There are still a number of cases in play challenging the CTA on various grounds, including some arguing that the CTA is unconstitutional. For example, the Community Associations Institute’s (CAI) case is still pending. CAI’s motion for a preliminary injunction was denied, but CAI has appealed.
POSSIBLE FINCEN EXTENSION: In an alert posted to its website, FinCEN indicates that, “in keeping with Treasury’s commitment to reducing regulatory burden on businesses, during this 30-day period FinCEN will assess its options to further modify deadlines, while prioritizing reporting for those
entities that pose the most significant national security risks.” They further state, “FinCEN also intends to initiate a process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.”
ENFORCEMENT: There are some indications that FinCEN won’t or can’t enforce the CTA. For starters, it does not appear that any funding was budgeted for enforcement of the CTA.
EXECUTIVE ORDER: An executive order issued January 20, entitled “Regulatory Freeze Pending Review,” provides that no agency shall issue any “rule” without the consent of an agency head appointed by President Trump. FinCEN’s deadlines are arguably “rules” under the law, so it is unclear what FinCEN’s extensions actually mean.
REPEAL: As mentioned above, efforts are underway to repeal the CTA, and bills are pending in both the House and the Senate.
Editor’s note: February 27, 2025, FinCEN Alert: “FinCEN announced that it will not issue any fines or penalties or take any other enforcement action against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadline.” This statement confirms that the Administration will conduct new rulemaking later this year “to minimize burden on small businesses while ensuring that BOI is highly useful to important national security, intelligence, and law enforcement activities...” Click the following link to read the full official alert: https://www.fincen. gov/news/news-releases/fincen-not-issuing-fines-orpenalties-connection-beneficial-ownership.
Be sure to check Echo’s website frequently for the most current information on pending legislation: www.echo-ca.org/echo-legislation-tracker/
Nathan McGuire, Esq., is a founding partner of McGuire Schubert Sohal LLP, a law firm specializing in representing community associations of all types. He has been engaged in legislative advocacy for HOAs for most of his 20+ year career and serves on the board of directors for Echo. He was named Super Lawyers magazine’s “California Rising Star” for six years running; Super Lawyer in 2021-2024; and is the recipient of an AV Preeminent Peer Review designation from Martindale-Hubbell, which signifies the highest level of excellence in the attorney profession.
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