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| IHG Insurance (National Insurance Provider) |
| Providing Community Association Insurance for over 25 years: D&O Liability, Crime Products, Umbrella Coverage and Property Manager's Errors & Omissions Liability. |
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JamesF
(Florida)
Posts:5
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| 08/17/2006 2:01 PM |
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| I have a question? Can an HOA manage themself or are they required to have a management co. We would love to be able to manage ourself. |
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JosephW
(Michigan)
Posts:788
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| 08/17/2006 2:05 PM |
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| I don't know of any state law that would require you to have a management company, howeverm your CC&R's (documents) might. Check them thoroughly. |
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Joseph West
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BradP
(Kansas)
Posts:1742
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| 08/17/2006 2:08 PM |
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James:
We are self managed, it certainly is a lot harder but can be done. You could good volunteers, good insurance, and not be afraid to confront your neighbors when they are in violation.
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hoatalk
Posts:490
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| 08/17/2006 2:18 PM |
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There are many topics here concerning self management, so that's a start for you: Search this forum for "self managed" or "selecting management company".
Here's a good discussion on it:
Subject: Help with Self Managed HOA
http://www.hoatalk.com/Forum/tabid/55/view/topic/forumid/1/postid/4810/Default.aspx
Some comments:
Being self-managed and doing it well requires diverse skills and dedicated Board members, plus lots of other volunteers. You must know HOA law, property maintenance, hiring contractors, liability law (for the HOA and it's Board), insurance requirements, reserve studies, meeting procedures, operational procedures, collection laws and procedures, record keeping requirements, proper forms to use for various functions, etc.
The states are passing more and more statutes regarding HOAs, so you also have to keep up in that area as well. Many members on this forum do self-manage and it can be done. Just go in with all the facts before you make a decision. It's big, complex job and you have to get people to volunteer to do it for free.
Best Regards,
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CharlesW1
(Georgia)
Posts:821
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| 08/17/2006 2:31 PM |
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JamesF,
I don’t believe a management co is required. It just makes it easier. If you have members that are eager, honest and are willing to do things in the best interest of the community then I say go for it.
This web-site is full of some very useful advice. You can read many of the previously posted responses or ask as many questions as you see fit to ask. The more information you get the more confidence you will have in becoming self managed. It’s a large responsibility to take on but not impossible by any means.
You have come to the right place for advice.
I wish I could be of help to you.
It appears you have gotten some good advice.
Best of luck to you
Chuck W.
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Charles E. Wafer Jr. |
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PatrickS
(Washington)
Posts:34
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| 08/17/2006 3:10 PM |
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Hi James:
Three of us were voted in within the last four months and we do not have a management company. We do a lot of work and we have bee actively recruiting volunteers which has been rather difficult. Seems most here would rather complain that be part of the solution which makes it easier to have a management company. I am getting a lot of support lately and am seeing the fruits of our labor.
The only part we are having problems with is rule enforcement. This is where I would see a management company being rather helpful. I encourage you to try, but don't be surprised by how overwelming it can be. We are in the process of a lot of projects and we are saving hoards of money doing it ourselves, but it is taking a toll on all of us and to top that off, we still have folks who complain about the money we are spendin on improvements.
Good luck to you,
Patrick |
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JulieS
(Georgia)
Posts:412
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| 08/17/2006 5:33 PM |
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| I recommend using a management company for a number of reasons. Some homeowners want us to self-manage but no one will step up to doing the work. Additionally, I don't trust these same people to do it correctly. When our HOA was first turned over to the homeowners, the first thing the 3 board members did was fire the MC. It became too much for them to do and they focused on a small amount of what needed to be done. There was no planning for the future. If you self manage, it will take plenty of volunteers and becoming educated in a lot of areas concerning HOA's. Should you choose this route, I wish you the best of luck. |
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GeraldT1
Posts:0
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| 08/17/2006 5:42 PM |
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JamesF,
Unless your governing documents specify that self-management requires a percentage vote of unit owners, then NO, you are not required to have a management co.
My gov. docs. specify a percentage requirement to self manage, thank god.
GeraldT1
NNJ |
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LisaP
(Florida)
Posts:32
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| 08/18/2006 5:18 AM |
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| In Florida (and Im not sure if that's where you are), a management company is not required. However, if you have one, they are required to hold a CAM license. |
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