A: It is a non-profit corporation registered with the State and managed by a duly elected Board of Directors. Its purpose is to maintain all common areas and to govern the community in accordance with the provision of the legal documents: Declarations, Bylaws, and Articles of Incorporation. The governing legal documents for your association may be viewed online within your Member Access Page providing that you have registered. The corporation is financially supported by all members of the association. Membership is automatic upon the purchase of your home within an Association.
Q: What is Governing Documents?
A: The Association as a corporation has Declarations and Bylaws to help direct and govern the Association and its' members. The Board of Directors is elected by the owners (members) to help carry out the operations in accordance to the governing documents.
Q: Are there any other rules?
A: Most associations have developed Rules and Regulations as provided for in the governing documents and adopted by the Board of Directors. Rules are established to provide direction to the homeowners for common courtesies with regard to parking, vehicles, pets and pool use hours, etc. In addition, your Association will adopt Architectural Guidelines with procedures for submitting requests to make exterior changes to your home. Such changes may include patio covers, decks, landscaping, exterior color changes or extensive interior changes and additions. These rules and guidelines are set up to maintain the aesthetic value and integrity of the community on behalf of all owners, and hopefully protect the market value of your investment as well. Violations of these rules may result in action by the Board of Directors and an enforcement assessment and other remedies under the law.
Q: How is the amount of my fee (assessment) determined?
A: Typically the developer for each community determines the fee and discloses this in the Declarations. In some cases, the fee is divided evenly between all units and in other cases it is based on percentage of ownership, unit square foot, location or whatever determination the developer decided to use.
Q: Will my fee (assessment) increase?
A: This is driven by the cost of operating the association. The Board of Directors has to adjust the income through the budget to meet the projected expense as needed.
Q: What happens if I don't pay my fee (assessment)?
A: The maintenance and operation cost incurred by the Association are dependent upon your timely payment of your fee, also referred to as the assessment. Late payments will result in a late charge as assessments are due on the first of the month. In addition to late charges, collection charges, lien filing charges, interest and or foreclosure proceeding for nonpayment of assessments will occur.