Important Notice: Our May 10, 2018 post, Notice to Wisconsin Community Association & Property Managers, advised unit owners, boards and property managers of the three new laws that passed on April 18, 2018. In that post, we described how one of those laws provided that any association looking to charge a fee in excess of $50 for complying with the disclosure requirements of Sec. 703.33 Wis. Stat. or to charge any fee for providing the first pay-off statement to a unit owner needed to comply with the new law. (See, Sec. 703.205 Wis. Stat.). At the time, we did not advise specifically how this compliance could be achieved. We are now providing that information.
Specifically, under the new law, Sec. 703.205(2)(a) Wis. Stat. requires that the written resolution for these fees be passed at a unit owners meeting. Accordingly, this would normally require 10 days written notice of the meeting (See, Sec. 703.15(4)(c) Wis. Stat.), a quorum of the unit owners present in person or by proxy and an affirmative vote of the majority of the unit owners present. The new law then also requires that the written resolution as adopted be provided to all of the unit owners within 48 hours of its adoption. Accordingly, if you intend to charge fees to your unit owners for these materials, please be certain to comply with the new law.