First HOA Meeting next week

Started by JimG2 • 3 replies • 1209 views

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JimG2 (California)
Posts: 6

Posted:

Hi, I just bought a condo in West Los Angeles. The building is a conversion, and we all just moved in one month ago after a long escrow (about 10 months). Our first HOA meeting is next week, and I am wondering if anyone knows what I can read to prepare.
I have a gut instinct that the Sellers/Developers are going to try to get out of the situation as soon as possible--that's been their MO all along.

Here's a bit more information:
a) Not sure why the escrow took 10 months, but know that it has to do with the Developers not getting all the city permits in line before beginning to sell units to us.
b) Building has only 10 units
c) Common areas are minimal: no lobby, just hallways, parking structure, and some outdoor landscaping.
d) Building was originally built in early 1990s.
e) Units averaged around $600K
f) Average age of owners seems pretty young
g) I don't think any of the owners are lawyers

LarryM3 (California)
Posts: 37

Posted:

Jim,
First see or ask to see what documents were prepared by the developers as far as CC&R's and By-Laws. The new board may have to establish Rules and Regulations. Next down load the "Davis-Sterling Act" that is the governing document put out by the state of California regulating HOA.
Good luck and enjoy your new residence.
Larry

JoeW1 (New York)
Posts: 728

Posted:

JimG2 - You don't need to be a lawyer. Just informed, well-spoken, calm, respectful, and determined. The most important thing is that the owners need to 1) organize themselves in accordance with the by-laws and Davis Sterling Act, 2) learn as much as they can about the common elements the association is to maintain and replace, 2) make sure the common elements are built in accordance with city code, by 3) getting a copy of the city approved conversion construction plans (electrical, structural, etc.), 4) hold the developer to make good on building your condo's in accordance with those plans or pay the association the money to finish the job in accordance, 5) 10 units should probably have 3 owners on the condo Board so volunteer or get involved. Sounds like you are on your way!! Good Luck.

MelissaP1 (Alabama)
Posts: 13,836

Posted:

Of course the Developer/Builder wants out of this. It's always their goal in almost any HOA. Developers/builders only make money at the beginning. Maintaining a HOA costs money and doesn't generate any. Developers are in it for the money. A HOA is actually a "Sales tool" for them.

I wouldn't concern myself with the developer/builder leaving. I would want to start investigating and learning what to do during the transition period that is to come. Find out what's left for the developer to complete and hold their feet to the fire to get it done before they transfer ownership to the homeowners. Once they turn over, everything will be up to the homeowner's to complete. Even hiring a management company.

Go to your meeting and LISTEN! Your new and don't know what is going on yet. So take a meeting or two to listen to what is going on. Then when you feel comfortable to speak or get more involved do so. Just get adjusted first before making "judgements" or knee jerk reactions.

Former HOA President

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