hi everybody...

Started by JimR24 • 7 replies • 1261 views

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JimR24 (Texas)
Posts: 399

Posted:

Hi everybody - sure am glad i found this discussion forum. I'm a director on a small condo association in Texas and am hoping to hook up with more homeowner's association in northeast texas. I'd like to get to know others in my area who are in the same position as me - concerning fiduciary duty, working with property management companies, adhering to governing documents and all the other stuff we do.

Anyway, am glad to be here - and am looking forward to chatting with everybody.

oljim, in texas

Lovin' life with my honey!
and, President of HOA in Texas

CarolR11 (Colorado)
Posts: 2,563

Posted:

Welcome, JimR.

We don't seem to have many posters from TX and among them no regulars that I can recall. But if you have questions about, say, boards' fiduciary obligations and adhering to your governing documents, they are often typical among all HOA boards or states.

TimB4 (Tennessee)
Posts: 21,059

Posted:

Welcome Jim,

Although most of the regular posters on this site are not in NE Texas, we are all in (or have been in) the same positions of having to concern ourselves with fiduciary duty, MC, PM, etc. etc.

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Welcome Jim.

For the record what style type construction (high rise, townhomes, etc.), how many units, and what amount dues/budget.

Thanks

JimR24 (Texas)
Posts: 399

Posted:

Thanks soo much for the kind welcome. I'm one of five directors in a condo of 113 units with a clubhouse. We are gated, and there are several buildings on our grounds with 5 (and sometimes 4) units per building. My wife and i have lived here for about 7 years and the condominium is about 10 years old.

We love it here!....and have fallen in love with beautiful east texas - and especially Tyler!

There is one thing happening now that i'd like to post a separate message on. It has to do with fiduciary duty and our working relationship with our property management company, who keeps our books on the Quickbooks program.

I'll be posting that question shortly.

Thanks!

oljim in texas

Lovin' life with my honey!
and, President of HOA in Texas

JimR24 (Texas)
Posts: 399

Posted:

Oh, the other question which was asked was about our fees and budget. Our Annual budget is about $270K for the year for the 113 units.

Thanks!

oljim in texas

Lovin' life with my honey!
and, President of HOA in Texas

CarolR11 (Colorado)
Posts: 2,563

Posted:

Does this budget amount include your HOA's contributions to reserves? Or is it just your operating budget?

JimR24 (Texas)
Posts: 399

Posted:

Appreciate your question. I live in one of the mid-size units and the portion of my monthly fee which goes into reserves is about $54 monthly. The smaller size units contribute a bit smaller amount into reserves...and the larger units contribute a bit more. This is what you were asking...right? Hope i am understanding correctly.

Thanks!

oljim in texas

Lovin' life with my honey!
and, President of HOA in Texas

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