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Common Association Rules

Tue, 10 Dec 2019 22:47:10 GMT

Most homeowner associations ensure that a community looks a certain way to maintain property values and assure safety of the community. If you are a homeowner within an association we manage, then you will have access to your associations Governing Documents through the Resident Portal.

Breaking the rules could result in a notice from the Association and possibly a fine. Be well versed in your Governing Documents and enjoy the benefits of living in an Association!

1. Personal Belongings/Storage

It is included in our monthly services to perform monthly site visits. This is to ensure residents are abiding to association rules. Be sure to clear personal items such as toys, and garbage from your yards or porches.

2. Landscaping

Most associations hire a landscaping company to care for the common areas, this usually includes front entrances, signage areas, pool sides or playground areas. Homeowners are required to care for their own landscaping. Keep a close eye on your flower beds, dead spots in your lawn and weeds around your property. If you would like to change or add any additional landscaping to your home, please request an ACC form from Total Property Management.

3. Window & Window Coverings

Window coverings must be in good condition and show from the outside; white or neutral colors. No windows or screens should be cracked, broken or missing.

4. Personal Belongings

The storage of items is prohibited around the property, on patio and/or porch areas. No miscellaneous items should be in view from the street (i.e. toys, garbage, recycling, equipment, bottles, trash barrels, etc.).

5. Vehicles

No boats, campers, trailers, disabled vehicles and expired tabs are to be parked/stored on the lot or sidewalks.

6. Carports

Only for vehicle storage, unless otherwise stated in your Associations Governing Documents

7. Pets

All pet waste must be immediately removed from common areas as deposited. Pet waste is not permitted to accumulate in the back-patio areas.

8. Holiday Decorations

Associations typically regulate how long you can display holiday decorations. Removal of décor is usually enforced to be taken down two to four weeks following the specific holiday. Some associations have restrictions on roof hangings, yard décor and noise/smoke machines.

9. Rentals

Not every association will allow you to rent out your property. Be sure to get in touch with your property management company before you make that decision. You do not want to make yourself liable to potential fines. Typically, condo associations have rental caps for the number of units to be rented at any given time and you may have to be placed on a wait list.

Studies have proven a high rental percentage within a community, negatively effects property values and maintenance begins to decline. These rules are to protect your investments.

10. Trash

Make sure you take your trash cans to the curb and bring them back in once your bins are empty.

Importance of Attending Annuals

Wed, 09 Oct 2019 18:55:36 GMT

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/.

Online Portal

websites@hibu.com (Hibu Websites) — Wed, 28 Aug 2019 21:47:28 GMT

Our partnership with 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!

The Owner and Resident Portal’s key features are:

24/7 access
Secure online payments
Instant access to payment history
Submit maintenance and architectural review requests
Receive documents shared from us
Send us texts

The boards and owners of our associations and properties have access to the same features as stated above. However, they have access to a few different tools within the portal. Appfolio’s mobile capabilities mean that you have on-demand access to important documents at any time. A few key features are:

Access to monthly summaries
Shared inspection reports
Year-end tax statements
With a click of a button, you can approve or deny bids, ACC forms, invoices and more!

** Appfolio no longer supports Internet Explorer. If you are having trouble please use a different browser. Either Google Chrome or Firefox **

COMMON QUESTIONS

What is a Reserve Study and Why is it Important?

websites@hibu.com (Hibu Websites) — Fri, 12 Jul 2019 22:18:22 GMT

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 ultimately, help avoid the costly expense of emergency repairs to common areas!

A reserve study is a road map that allows the board/manager to make effective decisions, prepare the association's budget, reserve contribution percentage, goals and appoint members a fair assessment annually. In other words, a “long-term capital budget planning tool which identifies the current status of a reserve fund”. This study consists of two parts: a physical analysis, containing an assessment of the Common Areas (defined within the association’s CC&R’s and Bylaws) and a financial analysis.

There are three types of studies:

1. Full – Most of the time this option is for associations that are having their first study performed or for associations that are not confident about the accuracy of their previous reserve study. Service descriptions include the development of component inventory, condition assessments, life and valuation estimates, funding status statement along with a recommended Funding Plan.

2. Update With-Site-Visit – Less time intensive than a Full Study and typically done every 3 to 5 years to document changes to Component List. Your company of choice will verify component inventory, condition assessment, provide life and valuation estimates, funding status and re-assess the Funding Plan.

3. Update No-Site-Visit- This option is based solely on information collected from the board, management company, maintenance staff or vendors from previous Reserve Studies. This option usually includes, life and valuation estimates, funding status statement and develops a recommended Funding Plan.

Once you’ve selected the type of study, you would need to select a funding method. However, most of the time Reserve Studies will suggest the best method based on the data collected. Managing reserve funds is a complicated decision…You want to make sure the associations members are getting the repairs needed, to protect their investment while, also, ensuring a moderate and flexible financing approach. According to industry standards, there are two basic processes identified as the cash flow method and the component method.

Funding methods defined:

1. Component Funding – A complex funding method, that requires significantly more time and understanding than the Cash Flow method. Within Component Funding, it requires the board to save for each “component” separately. Think of it as an “envelope system” for a Reserve Fund/savings account.

Components typically are:

Association responsibilities

Limited useful life expediencies

Predictable remaining useful life expediencies

Above minimum threshold cost (as required by local codes)

2. Cash Flow or “Pooled” Method – is more flexible and most used in the industry today. “Components” are not segregated, so it requires less time and accounting than the Component Method. This method simply means, assessments are budgeted into a “pool” reserve account for each year. The only downfall is, there is a slightly higher risk for reliance on special assessments.

How can Total Property Management Services, Inc. help?

Our managers can guide the board during this process, assist in evaluating the health of the association and govern the community to make sure the plan comes to fruition.

Citations:

1. Reserve Study Definitions. (n.d.). Retrieved from https://www.reserveadvisors.com/reserve-studies/definitions.aspx

2. Criterium Engineers. (n.d.). Retrieved June 26, 2019, from https://criterium-engineers.com/homeowner-associations/faqs/

3. Types of Reserve Studies Levels of Service and what is in them. (n.d.). Retrieved June 26, 2019, from https://millerdodson.com/wp-content/uploads/2014/06/Types-of-Reserve-Studies.pdf