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Forums > Homeowner Association > HOA Discussions
Subject: New HOA
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Author Messages
JackL
(Kentucky)

Posts:1
07/18/2006 6:38 AM  
Has anyone had experience with starting a HOA in an existing subdivision. We are a sub. of 12 lots. 2 unsold. 2 full time residents, 4 part time residents. 2 haven't built yet. A couple of the families own more than 1 lot. All lots are single family homes.
There are covenants to the subdivision, but no HOA was formed before the lots began selling. We'd now like to start one and have many questions. If anyone has had this experience, we'd like some advice.
RogerB
(Colorado)

Posts:4647
07/18/2006 7:03 AM  
Jack, do your Covenants do not include the option for a manditory assessment? I presume not since no HOA was formed. If not you can form an association which has voluntary dues. Set up a meeting; elect a temporary President and set up a committee to draft a set of By-laws; have a second meeting to approve the By-laws and elect officers; and decide whether or not to incorporate.

You will find with volutary dues you can only expect voluntary compliance to restrictions in the Covenants. Beyond letting owners know when they are in violation of a restriction your HOA has no enforcement power and therefore is primarily a social organization.
DorothyB
(California)

Posts:6
07/18/2006 11:14 AM  
Another question on subject of new hoa.......
What size complex would benefit from the hiring of a professional managemet company? And vis-versa? Would NOT benefit?
JulieS
(Georgia)

Posts:412
07/18/2006 7:16 PM  
The answer to the management company depends on the volunteers you have. Should you have volunteers that are willing and able to do it all then go for self-management. If you lack volunteers and the willingness to put for the effort and committment, then go for the management company. You can opt for self-management, full management or hire someone for just the accounting and legal portion and do the rest yourself. Plenty of options, just depends on the volunteers.
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Forums > Homeowner Association > HOA Discussions > New HOA


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