HOAs and Short-Term Rentals; Nonprofit Annual Reports; Earnest Money Disputes
Legal Update
Can My HOA Amend its CC&RS To Restrict Short-Term Rentals?
By: Christopher J. Charles, Esq.
A common question that many HOA communities face today is how to treat short-term rentals. The sharing economy has given a boost to Arizona’s economy, especially to its tourism industry. But one man’s blessing may be another man’s burden. Although short-term rentals have increased Arizona’s real estate values, opponents argue that transitory rentals are a nuisance to neighborhoods. Applying the Court’s holding in Dreamland, if an HOA’s existing CC&Rs do not already restrict rentals in the community, the CC&Rs cannot be amended to add a new restriction regarding short term rentals.

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How to File My Nonprofit Annual Report: A Step-By-Step Guide
By: Erik W. Stanley, Esq.
All nonprofit organizations in Arizona must file an annual report with the Arizona Corporation Commission on the anniversary of the nonprofit’s date of incorporation. This step-by-step guide will help you file your Arizona nonprofit annual report: (1) Determine your filing due date and fee, (2) Fill out your nonprofit annual report online, then (3) Submit the Arizona Annual Report and pay the filing fee. The filing fee for nonprofits is $10 and must be paid online with a credit card. Arizona nonprofits are not charged any late fees for failing to file on time but failing to file an annual report altogether may lead to administrative revocation of the nonprofit corporation.
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What Happens to Earnest Money When a Real Estate Deal Goes South?
By: Christopher J. Charles

In most Arizona real estate purchase contracts, the buyer will require the seller to deposit earnest money – typically with the escrow company – to demonstrate good faith. The deposit amount can be a percentage of the home sale price or an amount dictated by the seller. Once the deal goes through, the earnest money will be applied to the down payment or closing costs. There is an opportunity attached to many of these contingencies for the buyer to back out of the contract without forfeiting earnest money as long as the buyer provides timely and appropriate notice of the intent to back out of the contract. These opportunities include: Inspection contingency and Financing/Loan contingency.

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