Page 4 - CooperatorNews Las Vegas Fall 2021

4 COOPERATORNEWS NEVADA— FALL 2021 NEVADA.COOPERATORNEWS.COM I P EVENTS CooperatorEvents Expo Returns to Vegas this Fall! lvcondoexpo.com CooperatorEvents is thrilled to announce the return of our in-person Expos! Th is fall, the CooperatorEvents Las Vegas Expo will take place at the Las Vegas Convention Cen- ter on Wednesday, November 10, 2021, from 10:00 a.m. to 3:30 p.m. We have an exciting lineup of exhibitors eager to interact in per- son, covering every aspect of multifamily liv- ing, from board governance, fi nancial plan- ning, and community engagement to roof repair, energy management, and landscaping. Like our past in-person Expos, the Coopera- torEvents Las Vegas Expo 2021 will include a full day of free workshops, seminars, network- ing, and more. And as always, registration and attendance are FREE to all! Visit www.lvcon- doexpo.com to see who’s exhibiting, get more information, and register as an exhibitor or an attendee. Th is will be a must-attend event for all condo, co-op, and HOA board members, property managers, residents, and real estate professionals in Nevada! We look forward to seeing you there in person! LAW & LEGISLATION Two New NV Laws A ect HOAs & CICs Two laws recently passed in Nevada have short- and long-term consequences for the state’s homeowners associations (HOAs) and common-interest communities (CICs). At- torneys Gregory P. Kerr and Michael T. Schul- man of Wolf, Rifk in, Shapiro, Schulman & Rabkin’s Nevada offi ces provide explanation in a recent column in the Las Vegas Review- Journal. Assembly Bill (AB) 356 prohibits the Southern Nevada Water Authority (SNWA) and its member agencies from distributing water from the Colorado River to properties other than single-family homes for irrigation use on “non-functional turf” starting January 1, 2027. According to the attorneys, the law provides for steps that must be taken in the interim. First, the SNWA board of directors must establish a plan for removal of existing non- functional turf on property not zoned ex- clusively for residential purposes. Th is will require identifying such areas within the agency’s service area and facilitating their removal—or at least establishing removal phases based on categories of water users— and establishing deadlines for existing SNWA customers to remove non-functional turf on property that is not zoned exclusively for a single-family residence before the December 31, 2026 deadline. Additionally, under the bill, the board is charged with defi ning the term “non-functional.” AB 356 also provides for the establish- ment of a Non-functional Turf Removal Ad- visory Committee made up of nine members from specifi c sectors. Per the law, two of those members must represent a common-interest community with existing non-functional turf at the time the member is appointed, and one must represent multifamily hous- ing with existing non-functional turf at the time the member is appointed. Th e Advisory Committee will be tasked with discussing is- sues related to non-functional turf removal and the SNWA board’s plans therewith, along with making written recommendations to the board on a majority approval basis. Th e inclusion of “existing non-functional turf” within the qualifi cation of Advisory Committee members implies that the SNWA board will have already established a defi ni- tion of the term prior to members being ap- pointed to the committee, note the attorneys. Th e other law, AB 237, limits amounts associations can charge for fees such as for account setup and resale certifi cates and pro- vides for an annual infl ationary increase for the former. It also prohibits additional charges for similar services. Th e Nevada Real Estate Division (NRED) has statutory authority to investigate and impose certain penalties for violations of these provisions. As the attorneys explain, associations nor- mally pay an account setup fee to their man- aging agent for each unit that opens or closes an account, in an amount determined in the management contract. Th at amount can be charged back to either the purchaser or the seller, but per Nevada Revised Statutes (NRS), it cannot exceed $350. While NRS does pro- vide for infl ationary increases, its language limits the total to the $350 cap. AB 237 allows an annual infl ation increase that is calculated by multiplying the actual amount of the fee by the CPI percentage increase as published by the United States Department of Labor for the preceding year, but not to exceed a 3% increase from year to year. It allows the total to exceed $350, but in no event can the asso- ciation charge more than what the association incurs under its management (which may be less than $350), plus the infl ationary increases as provided for under AB 237. AB 237 also sets the resale certifi cate fee at $185 and the expediting fee for that certifi cate at $100 and increases the amount that can be secured as part of the superpriority lien from a delinquent account from $150 to $165. Any other fees not expressly provided for in the law relating to services similar to resale cer- tifi cate preparation and account setup activity are prohibited, according to the column. Lastly, AB 237 provides for a specifi c pro- cess to remedy alleged violations of excessive charges for account setup fees or resale certifi - cate fees. n PULSE Please submit Pulse items to Darcey Gerstein at darcey@cooperatornews.com MAKING \[COMMUNITY\] HAPPEN Secure your community’s future with national resources and local expertise. 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