Homeowner association managers are a critical part of the turnover process from developer to elected homeowner board. But the devil is in the details and there are plenty of them to get this process right. Developers, in their role as pre-turnover board president often hire homeowner association management companies to handle HOA business like collecting fees, paying bills, processing maintenance requests, enforcing rules and architectural restrictions. These tasks will continue after turnover so getting the routine down as early as possible is in the best interest of the HOA.
If it feels to you like the flood of foreclosures is never going to end, there"s signs of hope coming from an unlikely place. According to the broker-owned Realcomp, housing sales in foreclosure-drenched Detroit and Wayne County are up for the fifth consecutive month.
Part of the routine of running a homeowner association includes annual election of directors to the Board. In most, some directors step down and others step up to work with the remaining directors whose terms have not yet expired. Staggering terms makes sense so that there is an element of continuity. Seasoned directors bring with them perspective and history that is valuable to decision making. And it eliminates reinventing the wheel on issues that have already been discussed and decided.