The Benefits of Establishing a New HOA with Initial Property Management Services
When you are starting a new homeowners association (HOA), attention to detail is essential. There are legal requirements, operational considerations, and other issues that require keen knowledge and extensive effort. A summary of Arizona and federal laws may be useful, but the relevant statutes can be complicated. Instead of risking mistakes or taking time away from your own full-time job, consider working with Gilbert HOA property management services that can guide you through the process. Some benefits of establishing a new HOA with initial property management services include:
Legal Requirements for Establishing a New HOA
If you do not have a legal background, you may spend a significant amount of time researching Arizona laws on creating the HOA. You must file Articles of Incorporation, along with the required filing fees. Plus, you must ensure that the HOA is properly organized as a non-profit business. Property management service providers know the legal requirements and compliance issues as they are trained to complete this task alongside the required legal counsel.
Bylaws and Powers of the Board of Directors
In addition to the official Articles of Incorporation filing with the State of Arizona, there are also other governing documents that need to be legally recorded as well. One such governing document are the bylaws. The bylaws designate the duties and powers of the HOA board of directors, and they cover a wide range of internal governance issues. Preparing the bylaws and defining the requirements for meetings takes knowledge and attention to detail, qualities you can rely upon from Gilbert HOA property management services. Once again, attorneys are required for writing these easily complicated legal documents.
Declaration of Covenants, Conditions, and Restrictions
Another foundational governing document are the covenants, conditions, and restrictions also known as the CC&Rs, which contain the rules for the community. There are provisions regarding usage and maintenance of the common areas, home or unit. This legally recorded document also includes how the community will enforce the governing documents. A property management company has experience and knowledge regarding the terms and conditions that are so critical for CC&Rs.
Developing Architectural Guidelines
One of the greatest benefits to homeowners in a community is uniformity and consistency. The architectural guidelines can specify the rules regarding use and appearance of individual homes or units, which supports and increases property value. However, this document can be very detailed and requires a significant time investment. The architectural guidelines are a more in depth specification already set forth in the CC&Rs. It is legally vital that the architectural guidelines do not contradict your legally recorded governing documents. Property management services know the formulas that work for architectural guidelines, and can tailor them to your HOA needs.
Ongoing Property Management Issues
When you work with property management services for a new HOA, you develop a business relationship and solid framework for issues that can arise over time. The company has an in-depth understanding of your unique needs and challenges, so employees can provide assistance with ongoing issues. If your governing documents need amending, for example, you can trust the property management company to handle the task. There are also continued compliance issues under Arizona and federal laws that a property management company can assist with as well.
Call Now for More Information on Gilbert HOA Property Management Services
If you would like to learn more about the benefits of establishing a new HOA with initial property management services, please contact City Property Management Company at 602.437.4777. You can also visit us online to request a proposal or read about our wide range of services for HOA boards of directors in Gilbert.