Self-managed HOA’s are becoming more prevalent among community organizations due to the power inherent in their structure. Using a self-managed HOA as opposed to more traditional HOA arrangements can lower the operational costs of a homeowner’s association board and staff while lending more authority to the voices of the community residents. A self-managed HOA can handle all of the responsibilities from property management to legal issues, keeping items transparent and accessible to necessary personnel within the community and the standing homeowner’s association. The benefits of a self-managed HOA differ from those of a traditional arrangement in a number of ways, most of which are to the advantage of the budget and the community awareness of HOA policies and procedures.
News items of national interest regarding Condominium and Homeowner associations, compiled by the Community Associations Network
A $1.7 million lien filed against 135 Manhattan properties – which many homeowners believed to be fraudulent – could be released as early as Thursday.