HOAleader.com - Tip of the Week - February 26, 2021
Published: Fri, 02/26/21
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Conducting a Performance Review: How's Your Condo/HOA Manager Doing?
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In this week's tip, we help a reader with a process to effectively review its management company.
Your agreement with your HOA management company can give you a road map for an evaluation form. "What you have to do is take a look at the management agreement," advises Joan Lewis-Heard, a senior associate at SwedelsonGottlieb in Los Angeles, who at any given time represents hundreds of condos and HOAs throughout California. "Most of the issues and requirements are going to be set forth in there. Use the headings in the contract as a list of items to go through to evaluate whether the management company is doing what they should or shouldn't be doing."
That's a good start, agrees Wil Washington, founder of Chadwick, Washington, Moriarty, Elmore & Bunn in Fairfax, Va., who is licensed in Virginia, Washington, D.C., and Maryland and has been practicing community association law for more than three decades. "Pull out your contract with the management company so you know what the management company has agreed to do," he suggests.
"Then sit down and work together collaboratively to review what the management company is doing, what you expect them to do, and how you want to report to each other about what's being done," he adds. "That's the smartest way to come up with an evaluation program so that all parties are aware of what they're supposed to be doing throughout the year, not just at one specific point in time."
That seems intuitive, but most boards haven't thought to do it. "Look at your contract first and foremost," agrees Molly Peacock, counsel at Rees Broome in Tysons Corner, Va., who has represented condos and HOAs for 15 years. "It's always shocking to me how many boards haven't thought to do that. I also suggest boards keep a log of what you think was supposed to get done and didn't, if anything."
In addition to that roadmap the contract provides, it's also wise to think about the things not in the contract but that are valuable. Find out what to look for in our new article: https://www.hoaleader.com/members/4282.cfm
Best regards,
Matt Humphrey
President
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Recent articles posted at HOAleader.com:
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What's a HOA Resale Fee, and Who Sets It?
An HOAleader.com reader asks, "In Florida, does an HOA board have the sole authority to charge a fee on resales, or do they need a member vote?" Here, we answer that question and broaden it beyond Florida. When can it be charged, and what are the pros and cons?
Click here to read full article:
https://www.hoaleader.com/members/Whats-HOA-Resale-Fee-Who-Sets-It.cfm
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Is This a Quirky Condo/HOA Law? Or Just Plain Baloney?
An HOAleader.com reader asks, "We had our board election today. A long-standing board member who has contributed greatly to our community won 22 votes out of 35 votes. Our management company said that due to a state statute that 2/3 votes of the total votes were needed if he had served for more than 8 years, they said he didn't have that percentage so was disqualified and was not eligible to be reelected. He had the third-highest votes out of the nine people who ran. Is this true?"
Click here to read full article:
https://www.hoaleader.com/members/This-Quirky-Condo-HOA-Law-Or-Just-Plain-Baloney.cfm
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HOA Board Members and Fiduciary Duties
Join us for in an in-depth webinar on March 25 led by two community association experts who will explain in layperson's terms what it means to act as a fiduciary for your association.
Click here for info:
https://www.hoaleader.com/products/hoa-board-fiduciary-duties-a.cfm
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Condo and Owner Battle: Who's Responsible When Insurance Doesn't Fully Cover Damages?
An HOAleader.com reader asks, "Our HOA insurance policy covers cost less depreciation. This means in a recent claim, the homeowner wants the HOA to make up the difference because the insurance money doesn't cover the full cost of replacing all the cabinets and countertops in their bathroom so they all match. The homeowner now wants the HOA to make up the difference. Is the HOA obligated to make up the difference from HOA funds, or should the HO6 policy cover the difference?"
Click here to read full article:
https://www.hoaleader.com/members/Condo-Owner-Battle-Whos-Responsible-When-Insurance-Doesnt-Fully-Cover-Damages.cfm
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55-and-Over Condo/HOA Communities: A Primer
An HOAleader.com reader has asked for a primer on 55-and-over communities. Specifically, our reader wants to know what they are and what they aren't, along with who can purchase in them, and what communities must do to maintain their status as such a community. Here, we oblige.
Click here to read full article:
https://www.hoaleader.com/members/55-Over-Condo-HOA-Communities-Primer.cfm
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