Request to my Texas HOA MC Is this OK????

I am in Texas. I am part of a HOA that has 1275 Residential units no condos. Also what should I expect to pay for this service?

My Email

Hello Again.

I made a request this weekend and seeing how it was the weekend you have not had time to reply. I have discovered I need some additional documents. I do not want to waste your organization's valuable time, so I am just wanting to restate what I need and add in the new request.

Some of the information below is recap and some are new Formal Requests.

1. I need the entire history on the two each, four year interest free loans Loans and the repayment history from inception and current balances all outstanding internal loans to the XXXXXX. going back 3 years. Annual roll ups are fine.

2. I am also formerly requesting want the last 3 years of the CPA annual financial statement/reports which are a requirement by the By Laws. I am sure the organization that conducted the annual reports will be on the letterhead, and if not I would need the name of the CPA firm that created those reports.

Thanks

Please email me and let me know the cost of these documents, and I will make arrangements to come by and pick them up with your staff.

Happy Holidays to you and yours
:o)
XXXXXXXXXXXXXXXX

Could this be in over $100 bucks if a attorney did this? Worst case...what do you think I could be charged?

Ball Parking the figures.

Tim...as always..Thanks for giving your time. I truly appreciate it.

John

John,

Three years back is certainly not an unreasonable request. How long Associations keep records for varies, but they should have it for the last three years.

The problem with your request is that it is very general. You request the History of the four loans. This could include the following:
1) All minutes and attachments to each minutes of every meeting it was discussed.
2) All Financial paperwork associated with borrowing, receiving and repaying any of the loan (which can include cancelled checks, bank statements, etc.)

The request for a CPA's financial statements/reports might be interpreted to mean:
1) the actual report
2) copies of all financial transactions
3) copies of all financial reports provided to the Board
4) copies of all financial reports provided to the membership

Possible Charges could include:

1) Time to research and gather the documents
2) Travel time to a copy center
3) Time spent making the actual copies
4) Time spent to put the originals back into their place
5) Costs per page for the copies (probably between 10 and 25 cents per page)
6) Costs of any bank charges for copies of cancelled checks

If someone didn't want to make these copies they could probably quote you for all of this with the hopes that you will refuse to pay. Looking at the above six items, lets guess the worst for 100 pages of info:

1) 2 hrs. @ $60 per hour = $120
2) 1/2 hr @ $60/per = $30
3) 1 hr @ 60/per = $60
4) 1 hr @ 60/per = $60
5) 100 pages @ 25 cents per page = $25
6) 20 items @ $3/copy (based on Bank of America business checking) = $60

Cost: $325

This is why it best to be very specific with your request and/or go and review the files in person so you know what to ask copies of.

I would attend a board meeting or send a letter and ask what were the terms of the loans, when they were to be paid back and/or what steps were taken (increased assessments, etc.) to pay back the loans.

Then see what answers you get.