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How do we organize and register an HOA (Home Owners Association)?

Posted on Thu, Jun 30, 2011 @ 07:01 AM
  
  
  
  

Historically, our units went into foreclosure when the developer went bust and now each unit is owned separately. Unit 3 is owner occupied, Unit 2 is mine, Unit 1 is for sale and is owned by a bank and Unit 0 is owned by an investor. Unit 3's owner spent $9,500 getting the common areas up to use and occupancy standards.

  1. We need to figure out how to develop a HOA for our 4 unit condo (any suggested templates?)
  2. how to register it and
  3. where to buy HOA insurance? (Our building is a large row house so our common area consists of the exterior and stairways and landings and the mailbox foyer.) 
  4. My 4th question is can we require the bank to pay their share of the $9,500?

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COMMENTS

In what state are you located? Every state differs.

posted @ Thursday, June 30, 2011 10:24 AM by John


Does anyone have a template for a letter to show interest in being nominated for the HOA board? We are running elections and we need to submit a letter.

posted @ Thursday, June 30, 2011 1:28 PM by Janice Woerner


When we started our HOA, we contacted the IRS and got a form from them to request a tax ID in the name of the association.Then once we got the tax ID, we took it to a bank and got an association account in the association name the owner made up(the guy that owned the apartments and turned them into condos). Then you need to make a yearly budget and figure out how much each unit/condo will have to pay in condo fees every month. If you need rubbish removal, just call a rubbish removal place and the same for grass cutting, snow removal, maintenance on the property, etc. We went to the cheapest insurance company we could find and got insurance for the property(common area) and for whoever the officers were, President , Treasurer, secretary who are also board of directors. Each unit/condo gets 1 vote at meetings. As for who and how the officers came about, we just wrote up letters nominating owners and then voted at a meeting. One owner would nominate another in writting, a second owner would second the motion and everyone voted for that owner to take whatever position and to be a board member.What ever the name of your HOA is going to be, make up a letter head on your computer and you have your association template for letters and to keep track of your minutes at your meetings. After we had our first meeting, we typed up the minutes and went to see a lawyer, he typed up a letter stating this person or that person was voted as President and board member and it was filed at our courthouse. The original owner also wrote up a master deed and bylaws for the association and had it filed at the courthouse.

posted @ Thursday, June 30, 2011 6:10 PM by Florence Chiapulis


To the inquirer -  
 
In 99.9+% of all cases, the condo itself was registered and documents created prior to any building permit issued. This is especially valid for any property being developed, built and sold as a condominium. You are not a HOA. Different entity, different laws, different form of ownership. 
 
Contact the local planning board (zoning, etc, as used in your jurisdiction). A building cannot be constructed without building permit, which requires approval by the appropriate governmental agency. 
 
Once you have verified this information, you will have a clearer picture of the true nature of your issues to resolve.  
 
You may contact me for further clarification of your issues.  
 
Nancy Jacobsen, CPWI - Consulting Division  
 
 

posted @ Thursday, June 30, 2011 7:16 PM by Nancy Jacobsen


Since 2005, Association Online has been assisting persons by notifying them of pending HOA needs as well as saving time by making available HOA documents online. Compared to most of our competitors, The Association Online team offers unsurpassed service to our clients. We go beyond the call of duty by simplifying responsibilities, alerting you of HOA needs and providing the necessary HOA documents for homeowners. Contact us today atwww.associationonline.com (970-226-1324)

posted @ Tuesday, May 21, 2013 6:23 PM by Joe Delagdo


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