\u0631\u0648\u0633\u062a\u0627\u06cc \u0644\u0627\u06af\u0648\u0646\u0627 \u0648\u0648\u062f\u0632<\/p>\n
May 7, 2025 SPRING REAL ESTATE FORUM<\/p>\n
ANSWERS TO REALTOR QUESTIONS<\/p>\n
FINANCIAL REQUIREMENTS<\/p>\n
1. Third Mutual\u2019s updated financial requirements now permit income and assets to be collectively<\/p>\n
calculated for multiple applicants. Given this change, which eliminates the need for parents to lease<\/p>\n
units owned by their children, would it be possible to revisit the status of these parent-lessees and<\/p>\n
explore options for them to become owners?<\/p>\n
At this time, staff does not have the capability to identify which parents are currently leasing from<\/p>\n
their children. However, we will look into this matter further. Please note that it is likely all parties<\/p>\n
involved would need to collectively requalify under the current financial eligibility requirements.<\/p>\n
Why were Third Mutual\u2019s financial requirements increased?<\/p>\n
The Third Mutual board of directors has a fiduciary duty to safeguard the financial integrity of the<\/p>\n
corporation. To that end, Third Mutual’s financial qualification requirements were recently adjusted<\/p>\n
to account for inflation and took effect on January 1, 2025. These updated requirements help ensure<\/p>\n
that new members are financially positioned to meet their assessment obligations.<\/p>\n
GENERAL\/OTHER<\/p>\n
What is HomeWiseDocs?<\/p>\n
With the launch of the new Laguna Woods Village website, escrow disclosure documents required to<\/p>\n
finalize manor sales are now accessible exclusively to members through our secure, password-<\/p>\n
protected system. To streamline the process of ordering and delivering resale and lender documents<\/p>\n
for both condominiums and co-ops, the mutuals have partnered with HomeWiseDocs\u2014a web-based<\/p>\n
platform that provides automated access to essential homeowner association documents for real<\/p>\n
estate transactions.<\/p>\n
Because United Mutual requires prospective members\/residents to provide criminal background<\/p>\n
checks, what specific reports does the board prefer to review, and which companies provide<\/p>\n
acceptable reports?<\/p>\n
To promote the safety and well-being of all United Mutual residents, all prospective members,<\/p>\n
occupants, caregivers, subtenants and lodgers are required to submit a national criminal background<\/p>\n
report as part of their application. The report must include details related to national security<\/p>\n
concerns, misdemeanor and felony charges, offense descriptions and convictions, sex offender<\/p>\n
registry status and other relevant criminal history. In addition, the board requires that reports clearly<\/p>\n
indicate which databases were searched.<\/p>\n
For example, acceptable reports, such as those from Tenant Background Search, provide specific<\/p>\n
confirmation of the following:<\/p>\n
LJ<\/p>\n
Nationwide Criminal Report \u2014 Clear<\/p>\n
LJ<\/p>\n
Sex Offender Search \u2014 Clear<\/p>\n
LJ<\/p>\n
OFAC\/Patriot Act Search \u2014 Clear
\nReports from providers like RentSpree do not specify which databases were checked and therefore do<\/p>\n
not offer sufficient detail for the Board to make an informed decision. Applications submitted without<\/p>\n
appropriately detailed background checks may be delayed or denied.<\/p>\n
Can you explain the GRF trust facilities fee refund policy?<\/p>\n
If a current member sells or exchanges their unit and purchases another unit within 180 days, either<\/p>\n
before or after the sale, they are required to pay the GRF trust facilities fee on the newly acquired<\/p>\n
unit. However, a refund of this fee may be issued if all of the following conditions are met:<\/p>\n
LJ<\/p>\n
The member paid the GRF trust facilities fee on the previously owned unit.<\/p>\n
LJ<\/p>\n
The ownership and vesting on the new purchase remain exactly the same as the previously<\/p>\n
owned unit.<\/p>\n
The member\/owner must notify the Community Services Division and request a refund within 180 days<\/p>\n
of the close of escrow of their previously owned unit.<\/p>\n
Once all conditions are satisfied, the member may request a refund from the mutual boards.<\/p>\n
Please note: Retroactive refund requests submitted outside the 180-day window will not be accepted<\/p>\n
INSPECTIONS<\/p>\n
How do | obtain a copy of the SB 326 balcony inspection engineering report?<\/p>\n
Please log on to HomeWiseDocs.com to purchase the document.<\/p>\n
Please clarify the reason for the delays in receiving initial inspection reports and also explain why<\/p>\n
phone calls are not returned.<\/p>\n
The resales inspection team within the Manor Alterations Division experienced staffing shortages and<\/p>\n
was actively training new team members. These challenges have since been resolved, and the team is<\/p>\n
now back on track to perform inspections and issue reports within established target timelines.<\/p>\n
Additionally, new measures have been implemented to ensure that most phone calls are returned<\/p>\n
within 24 hours, further enhancing service responsiveness and communication.<\/p>\n
Occasionally, during a resale inspection, items that are the member\u2019s responsibility are overlooked<\/p>\n
in a previous owner\u2019s inspection report but are identified in the inspection for a prospective buyer.<\/p>\n
As a result, the buyer may feel that these items should not be their responsibility to maintain. How<\/p>\n
can this be prevented?<\/p>\n
Additional training and the implementation of revised standard operating procedures have been<\/p>\n
focused on enhancing the thoroughness and completeness of resale inspection reports. As mentioned<\/p>\n
during the forum, these more detailed inspections may take slightly longer to complete; however, we<\/p>\n
remain committed to meeting our established target timelines for these services.<\/p>\n
Can inspectors provide pictures of corrections that need to be made?<\/p>\n
This is a valuable suggestion. The resales inspection team within the Manor Alterations Division is<\/p>\n
currently exploring ways to incorporate photo documentation into the existing software system.<\/p>\n
Additionally, the team is in the early stages of transitioning to a new digital platform, which will<\/p>\n
include the ability to embed photos in reports as a standard feature.
\nLEASING AND LEASING CAP<\/p>\n
Why is there a leasing cap?<\/p>\n
Pursuant to Civil Code \u00a74741, homeowners associations may not enforce rental restrictions that limit<\/p>\n
rentals to fewer than 25% of units. Any rental cap more restrictive than this threshold is legally<\/p>\n
unenforceable.<\/p>\n
Maintaining a leasing cap at or above this legal minimum offers several benefits:<\/p>\n
LJ<\/p>\n
Helps members and prospective buyers qualify for more favorable loan terms<\/p>\n
LJ<\/p>\n
Supports a balanced member-to-tenant ratio<\/p>\n
LJ<\/p>\n
Contributes to a stable resident population actively eligible to participate in community<\/p>\n
governance<\/p>\n
With the new 25% leasing cap in Third Mutual, what happens if adult children want to purchase a<\/p>\n
unit for themselves, but are not age-qualified to reside, and are unable to lease the unit?<\/p>\n
If the leasing cap has been met and a lease cannot be approved, the adult children would be<\/p>\n
responsible for paying monthly assessments and other applicable fees until they meet the age<\/p>\n
requirement to reside in Third Mutual. They would not be permitted to lease the unit or occupy it<\/p>\n
until they qualify under the mutual\u2019s age restrictions.<\/p>\n
Explain what \u201cgrandfathered in\u201d means with respect to the new 25% leasing cap.<\/p>\n
\u201cGrandfathered in\u201d refers to a provision that allows certain members to continue leasing under<\/p>\n
previous rules despite the adoption of new restrictions. In this case, members who purchased their<\/p>\n
unit before the 25% leasing cap was adopted are grandfathered in and may continue to lease their<\/p>\n
units, even if the community has exceeded the cap.<\/p>\n
However, members who purchase a unit after the 25% leasing cap was implemented are subject to<\/p>\n
the restriction and may not lease their unit until the overall leasing percentage falls below 25%.<\/p>\n
Now that there is a 25% leasing cap, will those who inherit Third Mutual units be able to lease<\/p>\n
them?<\/p>\n
This matter is currently being reviewed by legal counsel.<\/p>\n
What happens when members sell their units that are currently being leased?<\/p>\n
If escrow is opened after May 1, the existing lessee may remain in the unit through the end of the<\/p>\n
approved lease term. However, once the lease ends, the new owner will not be permitted to lease the<\/p>\n
unit unless the community\u2019s leasing percentage is below the 25% cap. The ability to lease does not<\/p>\n
transfer with the sale of the unit.<\/p>","protected":false},"author":28,"featured_media":0,"template":"","document_category":[1712],"document_type":[53],"class_list":["post-71875","document","type-document","status-publish","hentry","document_category-realtor-forum-qa","document_type-other"],"acf":{"document":71876,"resolutions":null,"legacy_id":"","pdf_extracted_text":""},"yoast_head":"\n