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
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… Read more
“In the past, we felt like we did not get much support due to our size or the lack of effort from the person handling our account. I do not feel that way with Community Association Management. Our Property Manager has been very active in what we are trying to accomplish in our community and providing us with a variety of options. We are currently going through trying to figure out what to do about our roofing situation. The manager provided us good options and now we are in the process of starti… Read more
“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.”
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.
I am very pleased with our Portfolio Manager and Community Association Management in general. Both have met my expectations and in many cases they have exceeded them!
Community Association Management has been a godsend to our association. They are available 24/7 and they have all the answers we need. They cover the full gamut of services and have allowed us to consolidate several vendors into one source saving us countless dollars and hours. They have helped us change our operations from reactive decisions to informed proactive planning.
Community Management is a very professionally run organization, with all of the aids and assistance necessary to help a HOA board of directors answer to their community’s needs.
“Community Management is a very professionally run organization, with all of the aids and assistance necessary to help a HOA board of directors answer to their community’s needs.”
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!
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.