Los Angeles
HOA Management
J & N REALTY, INC.
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Documents Board Should Request __ Original copies of the association’s governing documents and all amendments to those documents (copies of documents that have been filed with the county recorder should clearly disclose the recording information). __ Minutes of all association board and committee meetings. __ Copies of all required state agency filings (such as the biennial statement of domestic nonprofit corporation required by Corp C §8210); see §2.3. __ Any files or records pertaining to architectural review. __ Any files or records pertaining to member discipline and governing document enforcement matters. __ Copies of all association tax returns, capital replacement reserve studies, applications for exemption from California income taxes (if an exemption was applied for on behalf of the association) and other pertinent financial records. __ Copies of all insurance policies maintained by or on behalf of the association. __ Any legal correspondence files maintained by the association. __ Copies of the final subdivision maps for the development, any conditions of approval (to the maps), and any development agreements with the city, county, or other local governmental agencies that may impose continuing obligations on the association that survive the developer’s exit from the development. __ A set of as-built plans for those portions of the development that were constructed by or on behalf of the developer. (Securing a copy of these as-built plans for the project is particularly important in developments consisting of separate interests that the association is obligated to repair and maintain. As-built plans are also important to obtain in developments featuring extensive common area improvements.) __ Copies of surety bonds and subsidy agreements, if any. (The association must assess whether the conditions for release of the bond obligation have been satisfied. The Department of Real Estate (DRE) regulations require the developer to post various surety bonds to assure its obligation to pay assessments, complete common area facilities, or perform its obligations under DRE-approved subsidy agreements. Bus & P C §11018.5(a)(2); 10 Cal Code Regs §§2792.3, 2792.9(a), 2792.10(a)(4). On subsidy agreements, see §§10.16-10.19.) __ Originals of all deeds to those portions of the development as to which the association holds title. __ A bill of sale or other evidence of transfer should be obtained for any personal property transferred by the developer to the association at the time of transition. | ||
J & N Realty Inc. -- Property Management Services Real Estate Condominium Homeowner Association Townhouse Townhome HOA Condo Common Interest Development > Useful Information II. > Documents Board Should Request We do the difficult immediately; the impossible takes a little longer
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It is the fate of the Property Manager to toil at the lower employments of life; to be rather driven by the fear of evil than attracted by the prospect of good; to be exposed to censure without hope of praise; to be disgraced by miscarriage or punished by neglect, where success would have been without applause and diligence without reward. While others may aspire to praise, the Property Manager can only hope to escape reproach, and even this negative recompense has yet been granted to very few.
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As Property Managers, we all have learned primarily
through our mistakes and pursuits of false assumptions
rather than by our exposure to fountains of wisdom and
knowledge.
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