Most condominium association’s “Declaration of the Condominium” (hereinafter referred to as declaration) follow the wording of Chapter 47C of the North Carolina Condominium Act with regard to the definitions of “common elements” and “units”. The Declaration specifies what insurance is to be provided by the association and what insurance is to be provided by the unit owners.In the statute, 47C-2-102, Unit boundaries it says: “Except as provided by the declaration:
Recent Posts by ideaforge
Why Do I Have To Pay For A Resale Package?
We have many homeowners who think that because they pay assessments every month they should not have to pay for a resale package. They are of the opinion that it is a bunch of pages all put together that just sits and waits for us to “push the button” when they place their order.
I would like to clarify why it is essential that management companies prepare these documents individually for each owner. First, it is a legal document required by law in many states as it protects the buyer from purchasing into a community association without first obtaining “full disclosure”. It contains a disclosure statement that includes the legal or pending legal status of litigation involving the association. It contains up-to-the-minute information about the assessments owed, outstanding special assessments and even pending assessments as required in many states. It provides the association’s financial status and any outstanding loans owed by the association. It also provides any covenants restrictions or violations on the unit. All of these questions are answered and are entered in real time by a staff member when the order is placed. The document is not static; it requires keen oversight as the questions are researched and completed.
Many owners may receive notice from their Bank or Mortgage Company each year requesting a certificate of insurance to provide proof of coverage. Upon contacting the management company, many of you have been charged a small fee for obtaining this information, and are upset and/or confused by this process.
These articles are written for residents who live in homeowner and condominium associations and are provided to you as a free benefit of our Board Member Resources area. The content is designed to help those responsible for community newsletters, association websites, bulletin boards and other forms of communication for homeowners.
Recent Comments by ideaforge
No comments by ideaforge yet.
Board Member Resources
Community Association Management has done a very good job for us . They provide good expense management and provide prompt monthly reports regarding all expenditures. Likewise , they have been quick to respond to the various problems that seem to always come up from time to time . In conclusion , I would highly recommend their organization.
Community Association Management is a solutions provider that enables HOA Boards to run efficiently and effectively. Their service is off the charts and their depth of knowledge and experience are invaluable.
Solid Customer Service! Your focus on solid customer service has made the transition go as smoothly as possible and reassures us we made the right decision to go with Community Association Management. I personally appreciate the way you communicate, your availability, and the way you make things happen.
Our Community has found so many benefits from eManageSuite. I find that the financial reporting and record keeping especially thorough and helpful. Our Homeowners love that they have choices on how to receive information and submit payments. I could never go back to operating without these tools and the professional guidance from Community Association Management. I wouldn’t even want to try.
I just want you to know that you have a very valuable asset and as we evaluated our relationship with Community Association Management – which we just did by upgrading our service package, signing up for a new 3 year term, which included a full time property manager and also investing in project management services – that our desire to enhance the scope of our relationship had a large part to do with your team.
I wanted to thank you for doing such a good job taking care of the property. I just wish I had the time to promote your company but due to my work load I haven’t been able to (but will when time permits) because you do such a great job. I can’t tell you how much this has meant to us for you to handle yourself so professional way with our owners.
6 yrs ago Community Association Management helped bail us out from insolvency to today’s successful surplus balance ! Community Association Management took the legal actions required to resolve our long uncollected debts – and acquire paying owners. Resolution of financial disputes required a professional mediator – and the prior management company not only failed at that task – they gave other “bad” advice that resulted in deficit budgets. Community Association Management has given “good” advic…
We needed structure and guidance and we are so appreciative to get that from this company.
I would like to thank Community Association Management for the fine job this past year. We had our annual meeting and our Property Manager did an excellent job covering the meeting. As I told the new board and the members present, I feel my finest achievement this past year was to bring your organization on board to be our management partner. Thank you again for making my second year as president easier and more rewarding.
I honestly do not have the vocabulary to describe how much Community Association Management means to our community, and what a wonderful Job you do for our community. You treat us like we are the only community you manage. We feel so taken care of and well run. Thank you!