The Association is a nonprofit corporation managed by a volunteer Board of Directors elected by the owners. The Board is responsible for the management of the Association’s funds; the enforcement of the deed restrictions, rules and regulations and the governing documents of the community; and the maintenance of common area property.
Yes. The non-profit corporation is created for all developments.
All owners are required to pay Association Fees by the governing documents of their Association. The fees may be due annually, quarterly or monthly. The operation and maintenance costs of the common property of the community are paid for by these fees. The fees are also used to fund services provided for the benefit of all owners.
The types of services that the association fees pay for may include common area landscape maintenance, repair and maintenance of pools, snow removal, repair and maintenance of roads, and playgrounds and equipment. These fees may also be used for community and/or structural improvements and services provided to the owners. Each community has its own governing rules designating what the fees are to be used for.
It is the land for the use and enjoyment of the members of the Association. This includes facilities like pools and playgrounds in single family communities and hallways, exercise facilities and building structures in condominium communities.
Typically. owners pay their association fees via check, made payable to their Association. Most communities provide payment coupons to accompany the check that include the mailing address. Some management companies also offer the option for owners to have their payments withdrawn automatically from their bank accounts.
The association’s board of directors is comprised of volunteers who reside in the community. They may choose to engage a management company to implement their decisions and carry out their instructions so they will be free from having to complete the necessary day-to-day tasks themselves. The managing agent’s activities may include, but are not limited to acting on the board’s behalf, where instructed, to solicit proposals, engage suppliers, ensure improvement projects are completed timely and with the desired result, manage accounting procedures, and enforce rules and regulations.
Yes. There are community standards that must be met that are set forth in the Governing Documents of each community for improvements. It is the association’s responsibility to ensure that these guidelines are adhered to in order to maintain the cohesiveness of the community.
The “Governing Documents” for your association include the Articles of Incorporation, Bylaws, Declaration of Covenants, Conditions and Restriction. In addition, any rules and regulations, resolutions or guidelines that have been established by the association are considered part of the governing documents. All purchasers should receive a copy or these documents upon closing. Any owner that does not receive the documents may usually request a copy from the management company or the County in which the association is located. From time to time, these documents may be amended and these amendments will be provided to all home owners as they are executed.
Most condominium associations have pet restrictions, but they vary from community to community. If you are concerned about these restrictions, you should review the governing documents for your individual community to learn what particular restrictions your community may have.
Yes. The Association’s insurance includes property and casualty policies for all common area property and equipment. It also includes policies that cover those that are working on behalf of the Association. The association will also have a master policy that covers everything for which it is legally responsible. However, the master policy does not cover the owner’s personal property. It is up to the individual owner to insure his/her own property.
When a unit is for sale, the prospective buyer has the right to know the amount of the association assessment and if the Association may take legal action to foreclose on the property in order to collect the assessment. The resale certificate is a disclosure by the Association of the amount of the assessment and whether the Association may foreclose to collect. It further notifies the buyer whether the seller has paid all assessments that are due and whether there are any violations affecting the real property being sold.