Condo Association Management Blog

I've been in HOA's that are both self managed and those with a management company. Usually the HOA charges the title company a fee for copies of the legal documents. Our fees have usually been about $25. You may also be asked for info regarding foundation repairs and whether there are any outstanding liens on any of the units or on the property. There should be a state governing body that you can approach for some assistance.

We are also a small HOA and can comment on the document fees-or I know them as HOA documents given to new homeowners. We charge $45.00 for each packet and hand deliver.The treasurer supplies the query about any back-owed dues or if there would be any liens,etc. 
I have a question for you -how did you fire the previous company-I assume it was not run by the HOA-so I guess you can just fire them. Our problem is how do you fire a current board member that is way out of line and not interested in getting back in-line??

Welcome to my world - saving HOA $$ by doing all financial work and it is full time during certain times - and except for a couple of owners Thankless - but keeps my investment out of bad hands. 
 
I was really busy during the re-fi hey-day. I finally put many of these docs online and send PDF's since I don't have a fax. For "ledger" I created - One Financial Sheet that is the Yearly Budget - I make a copy of that and update that copy monthly - so by the end of the year the actual Income/Expenses along with pertinent notes are complete with Dec.’s entries. ( I use Excel) 
 
You aren't charged because it is part of the Closing Costs - I started charging $50.00 since now so much required - in WA State we also include The WA Sate Reserve Study along with the other Docs requested. This is also your final chance to collect liens and outstanding dues etc. - it's paid to HOA out of sale of the unit funds at closing. 
 
For estoppel -found this is Wikianswers: 
 
"All assessments and payments due..." regarding an association should also include and not be limited to monthly or quarterly maintenance but ALSO any fines or other levies that are internal to the association and have not yet been processed through the courts which would result in a lien. Too often these other charges are missed my closing officers. An assessment is not aa monetary amount for a specific fine directed towards one member of the association but rather a general term for a financial charge towards the community. 
 
 
 
Read more: http://wiki.answers.com/Q/What_is_an_estoppel_letter#ixzz1QW8sk4Lc 
 

Does anyone know the answer to this? I was told if you charge for docs, letters for closing showing the homeowner is current or behind; can put you in a different status with IRS. Due to the fact you are making money? We self manage 15 units and do not charge, due to being told this. We are in SC. Does anyone know the proper answer.