Winter 2017

Welcome to the Winter 2107 edition of our company newsletter,

The CFM Distinction.  We want to bring your attention to a new law that went into effect January 1 regarding maintenance; please read the full article below. In addition, we’d like to invite you to be a part of an event that allows constituents to influence the legislative process, CAI-Legislative Day at the Capitol (click here for more information about the event).  CFM is sponsoring this event, as well as attending to meet with our legislators.  If you are interested, we would be happy to sponsor your registration.
Also, you can help directly by donating to CLAC, the California Legislative Action Committee.  Here are all the reasons why this is a good idea.  For another opinion on the importance of CLAC, read this informative newsletter. Please let us know if you would like us to prepare a check for you!
Keeping you up to date with information such as this is a reminder why you have chosen CFM as your financial management team. CFM is the only accredited financial management firm in California. We appreciate the opportunity to serve your Association!
With Gratitude,
Stacie & Linnea

Assembly Bill 969 – Maintenance

This new law is found in Civil Code Section 4775.  The association is now responsible for the repair and replacement of exclusive use common area unless the CC&R’s provide otherwise.  The owner is still responsible to maintain their own exclusive use common area.  This may be a good time to take a look at your CC&R’s, and amend as necessary.  During the amendment process, the association could make the owner responsible for the maintenance, repair, and replacement if desired.  At the very least, associations need to clearly define an owner’s maintenance duties for their exclusive use common areas such as balconies, decks, patios, etc.  Please contact our office if you would like assistance in coordinating the update or revision of your documents.  

What are people saying about CFM?

“We are very happy and privileged to be a client of CFM.  It has been a pleasure to work with you.  You have always been very responsive and helpful. In addition to the financial management CFM provides, we appreciate CFM’s guidance in the compliance arena.” 

Jeff Hart, Treasurer, 1512 Floribunda Avenue HOA

The Franklin Award

The Franklin Award is a company reward of a $100 bill given to one (or in this case, two!) employees per quarter in recognition of an outstanding achievement or extraordinary task completion.
They can be nominated by their fellow co-workers, by a homeowner, board member, or colleague. The Franklin Award winners for Winter 2017 are the dynamic duo customer service team, Cindy & Heidi. They were both nominated internally and externally for the exceptional service they provide to our clients and homeowners. CFM is very lucky to have them both on our team!

Keeping you up to date with information such as this is a reminder why you have chosen CFM as your financial management team. CFM is the only accredited financial management firm in California. We appreciate the opportunity to serve your Association!

Condominium Financial Management Inc., ACMB
925-566-6800