What do HOA docs include?
All documents provided by the developer, such as community maps, plats, plans, land surveys, permits. Recorded Declaration of Covenants, Conditions and Restrictions (CC&Rs), Articles of Incorporation, Bylaws and any amendments.
What is a condo association letter?
That’s the “HOA closing letter”. An HOA closing letter is a statement that provides information such as: initiation fees, annual dues, a balance of outstanding dues owes, transfer fees, capital contribution fees, and any fees that are required to join the homeowner’s association.
How do I organize my HOA files?
The Board should require storage of HOA records in dry, safe areas preferably in a fireproof storage closet. Many times the professional management company will store its client’s HOA permanent records, like the Board minutes, keeping current as well as the historical records on their site.
What do HOA financials look for?
The three most important financial statements that you should be able to access are the balance sheet, the income and expense statement, and the cash flow statement. The balance sheet is a financial report that totals up an association’s assets, liabilities and owner or shareholder equity.
How do you address a letter to a condo association?
Open the letter with a greeting that includes the recipient’s full name. For example, write “Dear Darcy Lane.” If you are addressing the letter to no one in particular, write “Dear Board Member” instead. There should be a single line of space between the recipient’s address and this greeting.
What is an estoppel certificate for HOA?
An Estoppel letter from a homeowners association is a document placed into file when a home or condominium is in escrow. The document states the seller’s annual fees for the homeowners association and indicates if the seller has paid in full or has fees due at the time of sale.
How do you write a condo board letter?
Do you need new bylaws for your Hoa or condo association?
Every community member in your HOA or condo association should be familiar with its bylaws and rules. Without these, residents have no way of knowing what is and what is not permitted. If policies are not readily available to owners, or if some of the rules or bylaws need to be amended, new documents may be necessary.
Is your condo or HOA board financially prepared?
Budgeting can be challenging, but it is a key duty of any condo or HOA board. The association’s budget is meant to ensure that it is financially prepared for the year ahead. A poor or incomplete financial budget can lead to significant issues including the inability to maintain or fix elevators, common areas, walls, roofs, etc.
Who is eligible to be a member of a condo association?
Section 1. Members. All residents of this community association, condo associations or homeowners association who are 18 years of age or older are eligible to be members of this Corporation. All members of the Corporation may vote for and are eligible to be officers of the Corporation.
What is an HOA meeting template?
These templates help guide busy members who want to ensure the documents and forms they are using for voting, meeting minutes, and finances, align with the requirements of their HOA or condo rules and bylaws. Members are encouraged to make additions or cut out items that don’t apply to them.