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DonnaB12 (Texas)
Posts: 6
Posted:
How can we find a Management Co to take over our small community? We have 25 patio homes in our community. For the last 2 years only afew of us have been willing to serve as officers.
How would we find a management co to take over the hoa? Would it be better to just dissolve the HOA? We have talked about offering a year free of HOA fees for persons serving as an officer since we would be financially able to.
Any suggestions would be helpful at this point.
GlenL (Ohio)
Posts: 5,491
Posted:
Donna, you can either ask other HOA's who they use, visit your local CAI website and check under vendors or do a Google search for HOA Management Company's and your city. While they can takeover the day to day running of the HOA, pay bills etc. you still need a Board. Not only is it required (I'm guessing) in your CC&R's it will be required by either the Texas HOA statutes or the Non-profit Statutes. As to disbanding the HOA if you have any type of common areas, entrance marker, retention pond etc. you would need to get your local city/county to assume responsibility for it. Another way to go if would be to hire a bookkeeper to handle the financials or if no one wants to serve you can petition the court to appoint a receiver, which can be VERY COSTLY. As to giving free dues for serving on the Board, you probably cannot do that. You could if your CC&R's allow, pay them a stipend equal to the amount of dues but a straight if you serve you don't pay is verboten.

Studies show that 5 out of 4 people have problems with fractions
JM10 (California)
Posts: 503
Posted:
Quote:
Posted By DonnaB12 on 11/11/2012 3:22 PM
How can we find a Management Co to take over our small community? We have 25 patio homes in our community. For the last 2 years only afew of us have been willing to serve as officers.
How would we find a management co to take over the hoa? Would it be better to just dissolve the HOA? We have talked about offering a year free of HOA fees for persons serving as an officer since we would be financially able to.
Any suggestions would be helpful at this point.

My friend was in a much smaller community where the board positions were revolved on a schedule, meaning that everyone served and knew when they would be serving.

As someone else commented earlier. There is no way you can have a management company take over the board positions. You could go into receivership, but that requires court action and is expensive.

Board positions are voluntary and cannot be paid which is what in effect saying that you don't have to pay HOA fees for a year is doing.

Having a management company does lessen the amount of work that board members have to do and the aim should be to get as many people as possible at board meetings--not just board members. So in terms of community involvement you might look at community days or other perks and activities to make your community more interested in each other.

JohnC46 (South Carolina)
Posts: 14,265
Posted:
Donna

As your HOA is so small, maybe what you want is a part time bookkeeper (not fulltime management) to take care of the paperwork and the BOD just get budget reviews/statements and approve cutting checks.
ElbyJ
Posts: 29
Posted:
Donna -- Hopefully, you have done a lot of homework on your situation. Have you identified all the HOA documents that have (or should have) been registered at your county records section. My question is "Did the building developers establish a HOA prior to building the homes?" If so, then you should have at least (1) Articles of Incorporation (2) CCR's, and (3) Bylaws already established for the HOA. In case you don't know -- Texas has some very strict laws concerning HOA's and you will need to read up on all the changes and new laws that went into effect about two years ago. The Articles of Incorporation is the most important document as it will identify if you are able to dissolve the HOA and how to do it, should you want to go that direction. Getting a management company to take over all the tedious duties of the HOA for such a small community may be difficult. They might charge more than all the homeowners want to pay out of their assessments. Wish you the best in your search!

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