Total Property Management Services Inc - Logo

Blog Layout

Importance of Attending Annuals

Oct 09, 2019

Budget ratification? Bylaws? Proxies? Although it may be more fun watching paint dry, reading these documents and attending association meetings is in the best interest of the Owners. Topics typically discussed at annual meetings directly impact the quality of life within the community and the value of an Owners property. 

These important topics may include:
 
• New year’s budget 
• Election of new board members 
• Amendments to your associations CC&R’s and Bylaws
• Upcoming projects
• New rules and regulations for the community
 
Prior to annual meetings occurring, notices, and proxies will be sent to Owners. Within a certain number of days, a proper notice of the annual meeting, as well as, proxy ballots must be mailed to the Owners of the community. Due to the sensitive and important information discussed at annuals, the budget ratification and the election of new board members may be held at the same time. Depending on the health of your association, certain projects may require assessing higher dues to maintain the community. Owners who do not want their dues increased should attend and participate in the decisions or to reject the proposed budget, if there is not enough Owners in attendance, the budget is automatically approved per the Washington State law and the governing documents.

Interested participants make the “executive” decisions for the whole community. Candidates for new board members, can be nominated by other homeowners, self-nominated or appointed by the board. Your association's Bylaws will clearly explain the procedure for electing the board members, their roles and the code of conduct for their operations. 
If Owners are unable to attend, be sure to fill out the provided proxy, hand deliver to another member who wants to vote the same as you and provide the information on your behalf. Proxies should be filled out and either given to the management company or to the homeowner that is acting on your behalf.  

We hope to see you at your associations annual to provide your input! If you have any questions or concerns, please feel free to call Total Property Management Services, Inc. 









Citations: 

Vactor, Will. HOA Meetings: What They Cover, and Why Homeowners Should Participate . Lawyers.com, https://www.lawyers.com/legal-info/real-estate/homeowners-association-law/hoa-meetings.html.

Taliercio, Michael. “Budget Ratification Meetings Basics – What You Need to Know.” Black Slaughter Black, 27 Nov. 2017, http://lawfirmcarolinas.com/blog/budget-ratification-meetings-basics-what-you-need-to-know/.

rules
By 7016641407 10 Dec, 2019
Most homeowner associations ensure that a community looks a certain way to maintain property values and ensure safety of the community.
By Hibu Websites 28 Aug, 2019
Our partnership with a cloud-based management software is a vital tool to optimizing communication between renters, owners and our operations. Appfolios built-in messaging and emailing tools make collaboration and staying informed easier on us all!
savingsaccount
By Hibu Websites 12 Jul, 2019
A “Reserve Fund” is, essentially, the associations saving's account. Why is it important? Asset protection and security. This study can offset reserve deterioration by evaluating the projected asset depreciation, and help avoid the costly expense of emergency repairs to common areas!
Share by: