TCAA
Texas Community Association Advocates Chairwoman Judi Phares
Business owners and homeowners from across Texas rallied this week at the Capitol in support of their community associations.
The Texas Community Association Advocates is supporting legislation that would give condominium associations more flexibility to borrow money and secure a loan to protect property values, and would give condo owners additional tools before facing foreclosure. The legislation would build on comprehensive homeowner association-related legislation passed last session.
?Allowing more flexibility for a condo association to borrow money for items such as major repairs [helps] keep property values high for owners,? TCAA Chairwoman Judi Phares said.
Nearly 5 million people live in up to 30,000 community associations in Texas. These associations employ thousands of workers and have an economic impact of more than $3 billion to the Texas economy, according to the TCAA.
Small businesses such as landscaping companies and law firms dedicated to home ownership rely on homeowner associations for employment and business, said Connie Heyer, a lawyer specializing in homeowner association law with Niemann & Heyer LLP.
More information on homeowner associations and related businesses is available on the Community Associations Institute's website, which has chapters in Austin, Dallas, Houston and San Antonio.
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