Frequently Asked Questions (FAQ's):
- What is a homeowner association?
- Do I have to belong to the association and pay monthly homeowner fees?
- What are Homeowner fees?
- Who decides how much I have to pay in homeowner fees?
- How do I pay my homeowner fees?
- What happens if I do not make my payment on time?
- What is a lien?
- How do I sign up for automatic payments from my bank?
- What is the role of the management company?
- What is the role of the Board of Directors and how are they elected?
- How do I report a problem?
- What do I need to know about the Declaration and Bylaws?
- Can I attend Board Meetings?
- Who determines the Rules and Policies of my association?
- Is it important for me to attend the Annual Meeting?
- Do I need insurance for my unit?
- I Still Have Questions. Where can I find more information?
Answers:
What is a homeowner association?
An organization of owners of lots in a planned community or in a condominium to serve as a means through which the owners may take action with regard to the administration, management and operation of the organization.
Do I have to belong to the association and pay monthly homeowner fees?
Yes, all owners must belong to the association. And, yes all owners must pay homeowner fees.
What are Homeowner fees?
Homeowner Fees represent the owner's share of the expenses for the operation of the common property.
Who decides how much I have to pay in homeowner fees?
Normally, the Board of Directors of the Association establishes the annual operating budget and reserve requirements. The governing documents set forth how the assessment is to be levied. For instance, some homeowner fees are assessed in the same amount to all owners while others may be assessed in accordance with the percentage of common interest.
How do I pay my homeowner fees?
Once the annual budget has been adopted, you will receive a coupon book approximately 30-45 days prior to the new budget year. This payment book will have details of the amount of your payment and the address for mailing your payment.
What happens if I do not make my payment on time?
It is customary for the Board of Directors to adopt a Resolution, which sets forth the payment deadlines as well as a late fee to be imposed if the payment is not received by the due date. This late fee is added to your account.
What is a lien?
The Association can file a legal document setting forth their claim against an owner if maintenance fees, late fees, legal fees and other assessments are not paid. A lien encumbers the property and remains as a cloud on the title until paid.
How do I sign up for automatic payments from my bank?
ACH is the name of the automated payment service that is offered by U.S. Bank. Owners may sign up for this service so that each month money is transferred from the owner's bank account to the association's bank account. This will ensure that payments are received on time so that there is never any cause for a late fee to be assessed.
What is the role of the management company?
The Board of Directors can engage the services of a management company to aid the Board in carrying out their responsibilities. Remember, Board members are volunteers while a management company is paid for its services. The management companies' services are retained to: Preserve assets. Maintain Value. Establish Continuity. Provide professional assistance in management and financial matters. Institute communication between the owners and the Board.
What is the role of the Board of Directors and how are they elected?
The Board of Directors of an association may act on behalf of the association as outlined in the governing documents of the Association. In the performance of their duties, officers and members of the board of directors shall exercise the care required of fiduciaries.
Owners elect the Board of Directors at the annual meeting of the homeowners association.
How do I report a problem?
If you want to report a rules violation, the incident must be placed in writing giving all the details (i.e. date, time, names of the parties involved, including any witnesses and what occurred.) This letter should be sent to the community manager assigned to your account.
You may report a maintenance problem by clicking on the Contact Us button and filling out a maintenance request.
Or, if there is a more immediate need you may contact CMI 24/7 at our main telephone number.
What do I need to know about the Declaration and Bylaws?
The underlying documents of the community association, apart from state law, are the Declarations, also referred to as Covenants, Conditions, and Restrictions (CC&R's) and the Bylaws.
Declarations or CC&R's are the constitutional law of the association. The Declarations define the limits and inclusions of ownership for the owners and the association.
Bylaws define the laws and operating procedures of the association. Bylaws detail the framework for governing the association that is authorized in the declaration. They address the association's structure, the board, the officers, definition of a quorum, ability to enter into contracts, etc.
Can I attend Board Meetings?
Yes, as an owner you have the right to attend meetings of the Board, but you may not participate in these meetings unless the Board provides an owner forum. Board meetings are designed for the purpose of decision-making and conducting association business.
Who determines the Rules and Policies of my association?
Rules and regulations are the operational and behavioral laws that apply directly to association residents. They clearly state acceptable and unacceptable conduct for all association members. The governing documents of your association set forth the basic rules. Power is also granted to the Board of Directors to adopt other rules and policies, but the governing documents as well as state statutes limit this authority.
Is it important for me to attend the Annual Meeting?
Yes. The Annual Meeting is one of the most important events of your association each year.
The annual meeting is normally a forum intended to attract the participation of all association members. Owners are given a unique opportunity to receive information from the Board of Directors relative to board actions during the previous year and to learn about plans for the upcoming year. While, the main item of business is the election of the board of directors the annual meeting also allows owners to speak out on important issues. This is your opportunity to meet your neighbors and find out what is going on in your community.
Do I need insurance for my unit?
Yes, while a portion of your monthly fees pays for insurance for the common elements, Directors and Officers Liability, and general liability for the Association you need a separate policy to cover your personal property and personal liability. All owners are encouraged to discuss personal insurance needs with their own insurance agent to make sure there is no gap between the association's insurance and the owners' insurance.
I Still Have Questions. Where can I find more information?
For additional questions, please fill out our Contact Us Form and we will respond as soon as possible.
