MB8 (Maryland)
Posts: 40
Posts: 40
Posted:
We just created a website using community123. Do you limit access as to what renters can see on you sites? Would be interested in hearing how everyone has their HOA sites set up for renters.
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Renter's access to HOA wesite
Started by MB8 • 19 replies • 1412 views
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DouglasK1 (Florida)
Posts: 2,046
Posts: 2,046
Posted:
Our website is wide open and doesn't require any kind of login. What information are you trying to protect that you think would not be good for renters to see?
Escaped former treasurer and director of a self managed association.
MB8 (Maryland)
Posts: 40
Posts: 40
Posted:
Like quarterly financial information. Or do you allow everyone access to that information?
DouglasK1 (Florida)
Posts: 2,046
Posts: 2,046
Posted:
No, we email the annual financials and budget and would supply quarterly if anyone asked, but nobody does.
Escaped former treasurer and director of a self managed association.
MB8 (Maryland)
Posts: 40
Posts: 40
Posted:
ok that may be a good idea just to email the financials quarterly instead of posting them
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
Renters or potential buyers are NOT HOA members. They have no right to have access to the HOA financials or other HOA matters. Now CC&R's and Articles of Incorporation documents are PUBLIC documents for anyone to access. A smart HOA/Owner would have a clause in their rental policy to follow the CC&R's and rules of the HOA. However, that is NOT an requirement.
Put it this way... It's like handing your HOA information to someone who walks by and says "Nice House". Why? Isn't it supposed to be "I OWN a house and a member of the HOA. Can I have information?".
Put it this way... It's like handing your HOA information to someone who walks by and says "Nice House". Why? Isn't it supposed to be "I OWN a house and a member of the HOA. Can I have information?".
Former HOA President
LetA (Nevada)
Posts: 2,679
Posts: 2,679
Posted:
I believe that potential buyers do have a right to view the financials, budget and reserve study.. It only makes sense for a potential buyer to review them.
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
Can I see your financial statements? I could be a potential buyer one day... Sorry but there are some things that are exclusive HOA membership. Not saying that a potential buyer should not do their due diligence. However, don't think it should be public information. The buyer may request it through the seller. However, I don't think they should be given it straight out without at least earnest money put down. Renters have no rights so no real need to know.
Former HOA President
MB8 (Maryland)
Posts: 40
Posts: 40
Posted:
I think we will leave the financial info off of the site and email the quarterly financials to our unit owners
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
Our website provides full access to the governing documents, our newsletter, a forum, contact info for the Board and Committee members and many neighborhood activities. Minutes of the Board and of the membership (which also contains our financial info) require a password to access. Passwords are only available to members of the Association.
CyrstalB (Maryland)
Posts: 457
Posts: 457
Posted:
Quote:
Posted By MelissaP1 on 11/20/2016 1:11 PM
Can I see your financial statements? I could be a potential buyer one day... Sorry but there are some things that are exclusive HOA membership. Not saying that a potential buyer should not do their due diligence. However, don't think it should be public information. The buyer may request it through the seller. However, I don't think they should be given it straight out without at least earnest money put down. Renters have no rights so no real need to know.
Can I see your financial statements? I could be a potential buyer one day... Sorry but there are some things that are exclusive HOA membership. Not saying that a potential buyer should not do their due diligence. However, don't think it should be public information. The buyer may request it through the seller. However, I don't think they should be given it straight out without at least earnest money put down. Renters have no rights so no real need to know.
This is silly. We all know that a signed offer on the home is how they get the financials. Just because you think you want to buy it does not meet the legal standard to provide any info let alone financials.
CyrstalB (Maryland)
Posts: 457
Posts: 457
Posted:
Quote:
Posted By MelissaP1 on 11/20/2016 1:11 PM
Can I see your financial statements? I could be a potential buyer one day... Sorry but there are some things that are exclusive HOA membership. Not saying that a potential buyer should not do their due diligence. However, don't think it should be public information. The buyer may request it through the seller. However, I don't think they should be given it straight out without at least earnest money put down. Renters have no rights so no real need to know.
Can I see your financial statements? I could be a potential buyer one day... Sorry but there are some things that are exclusive HOA membership. Not saying that a potential buyer should not do their due diligence. However, don't think it should be public information. The buyer may request it through the seller. However, I don't think they should be given it straight out without at least earnest money put down. Renters have no rights so no real need to know.
Correct, with a signed offer.
MB8 (Maryland)
Posts: 40
Posts: 40
Posted:
I just submitted a ticket to see if community news can be viewed on the front page without having to sign in. Do you know if that is possible?
GenoS (Florida)
Posts: 4,276
Posts: 4,276
Posted:
I'd never consider making an offer without seeing the current year's budget and an analysis of reserves first. Which comes first, the chicken or the egg? I think it would be lunacy to make an offer and put something down before seeing that information. Walking away from a property because that info was considered "something you don't need to see" would be a no-brainer for me. I need to make an informed decision. "What do you have to hide?" would be my reaction.
TimB4 (Tennessee)
Posts: 21,059
Posts: 21,059
Posted:
Quote:
Posted By MB8 on 11/21/2016 5:23 AM
I just submitted a ticket to see if community news can be viewed on the front page without having to sign in. Do you know if that is possible?
I just submitted a ticket to see if community news can be viewed on the front page without having to sign in. Do you know if that is possible?
MB,
If you go to http://communityassociations.net/ (CAN), a sponsor of this site, you will see the news stories (as CAN provides them to HOATalk).
The added benefit is if you select your State page (see heading titled State Pages), you will see news stories specific to your State.
Tim
GeorgeR8 (Arizona)
Posts: 182
Posts: 182
Posted:
I give a copy of our financials to the realtor when one of our units go up for sale. I have nothing to hide.
MelissaP1 (Alabama)
Posts: 13,836
Posts: 13,836
Posted:
There is nothing for YOU to hide. However, the financials are not just yours. They are you and your neighbors that form the corporation. So you may not have a problem with revealing such information but what about the proprietary nature of that information? That information is property of your ENTIRE HOA.
It's not that I am against finding out such details of a HOA you are interested in purchasing from. Nor am I against sharing that information. The problem is that such information is for MEMBERS only. Renters and potential buyers are NOT members. The HOA shouldn't offer any specifics. Even the PUD form given to the lenders does not ask for that much detail. So if your going to provide this information make it in a format in such it's "general financial health" report than how much the HOA is paying for toilet paper for the clubhouse....
It's not that I am against finding out such details of a HOA you are interested in purchasing from. Nor am I against sharing that information. The problem is that such information is for MEMBERS only. Renters and potential buyers are NOT members. The HOA shouldn't offer any specifics. Even the PUD form given to the lenders does not ask for that much detail. So if your going to provide this information make it in a format in such it's "general financial health" report than how much the HOA is paying for toilet paper for the clubhouse....
Former HOA President
JoyceR2 (Virginia)
Posts: 156
Posts: 156
Posted:
2 things important for renters to view, newsletters and rules and regulations. Some absentee owners ae remiss in passing this info to their renters.
JoyceR2 (Virginia)
Posts: 156
Posts: 156
Posted:
2 things important for renters to view, newsletters and rules and regulations. Some absentee owners ae remiss in passing this info to their renters.
GeorgeR8 (Arizona)
Posts: 182
Posts: 182
Posted:
Quote:
Posted By MelissaP1 on 11/25/2016 7:36 AM
There is nothing for YOU to hide. However, the financials are not just yours. They are you and your neighbors that form the corporation. So you may not have a problem with revealing such information but what about the proprietary nature of that information? That information is property of your ENTIRE HOA.
It's not that I am against finding out such details of a HOA you are interested in purchasing from. Nor am I against sharing that information. The problem is that such information is for MEMBERS only. Renters and potential buyers are NOT members. The HOA shouldn't offer any specifics. Even the PUD form given to the lenders does not ask for that much detail. So if your going to provide this information make it in a format in such it's "general financial health" report than how much the HOA is paying for toilet paper for the clubhouse....
There is nothing for YOU to hide. However, the financials are not just yours. They are you and your neighbors that form the corporation. So you may not have a problem with revealing such information but what about the proprietary nature of that information? That information is property of your ENTIRE HOA.
It's not that I am against finding out such details of a HOA you are interested in purchasing from. Nor am I against sharing that information. The problem is that such information is for MEMBERS only. Renters and potential buyers are NOT members. The HOA shouldn't offer any specifics. Even the PUD form given to the lenders does not ask for that much detail. So if your going to provide this information make it in a format in such it's "general financial health" report than how much the HOA is paying for toilet paper for the clubhouse....
My HOA doesn't care. Of the 300+ HOAs in my 55+ the only ones that care are the ones with something to hide. We sell over asking with multiple offers in a day or two. Being completely transparent is a big reason for that. No renters to worry about since we don't allow them.
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