Articles

Helpful articles to aid Management Companies, Board Members, and Housing Cooperative Professionals in handling complex legal issues.
NCLC
NCLC
NCLC's Blog
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As rents climb, a group of Detroiters seek unique form of housing ownership

As rents climb, a group of Detroiters seek unique form of housing ownership Louis Aguilar The Detroit News

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New Federal Legislation Sweeps Co-ops into Reporting Requirements

Most housing cooperatives, along with other corporations, now must come into compliance with the reporting requirements of the Corporate Transparency Act (CTA). Passed by Congress in 2021, and effective as of January 1, 2024, the CTA is intended to protect national security and identify those who would use shell companies and other organizations to hide or benefit from their ill-gotten gains.

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Parking And Accommodations

We’ve all heard the phrase “Location, location, location.” But did you know it applies to not only where you live but where you park your vehicle? Where a person parks can have a significant impact on the person. In addition to the challenges of managing parking lots for members and their guests,, parking for housing providers can become a major headache if they don’t take the right steps when considering additional parking requirements when faced with disability accommodations requests. This doesn’t mean that every request requires a rubber stamp approval. Yet, each request should receive individual attention and housing providers have some leeway when considering requested accommodation. Knowing the “ins and outs” of the approval or denial process will help housing providers navigate this legally perilous subject.