Guilt by Association: A Survival Guide for Homeowners, Board Members and Property ManagersAll over the country people are thrust into positions of authority with little or no preparation. They are responsible for hundreds of millions of dollars worth of real estate, make decisions affecting the lives of hundreds of people and are responsible for spending hundreds of thousands of dollars every year. Who are these people? Why they are newly elected directors on the board of a condominium or homeowners association. Whether they are serving because of their own self-interest or for the greater good of the entire community, most people are ill prepared for this task and there is very little written on the subject. This book is an overview of the most significant and frequent issues, which board members and property managers deal with on a day-to-day basis. This handy reference is written in plain English and provides practical, no-nonsense advice on dealing with both the routine and complex problems arising out of homeowner association governance. |
Contents
Purchasing a Unit | 1 |
Turnover of the New Association | 7 |
The Annual Meeting | 17 |
Once You Are on the Board | 29 |
Executive or Closed Sessions | 32 |
Sweetheart Contracts | 37 |
Steps to Consider When Addressing Developer Defects | 44 |
Selecting Contractors | 51 |
Representing the Board | 100 |
The Lawyers Role | 108 |
Keeping Your Legal Expenses Under Control | 112 |
Access To Association Records | 116 |
Tools For A Better Board Meeting Why Do These People Act This Way? | 121 |
Collection Policy and Procedures for Condominiums and Homeowners Associations | 125 |
Protection or Illusion | 131 |
Leasing Units | 140 |
Adopting a Budget | 55 |
Capital Expenditures and Deferred Maintenance | 60 |
Recommended Procedures for Keeping Minutes for Property Owners Associations | 64 |
Adopting Rules and Regulations | 70 |
Risks and Liabilities for Property Managers | 77 |
Insurance | 82 |
How to Recruit and Retain Good People for Condominium and Homeowner Association Boards | 89 |
Or How Not to Do It All Yourself | 95 |
Employment Practices for Associations and Management | 145 |
Partners or Adversaries | 151 |
Umbrella Associationvs Residential Association Responsibility | 156 |
Mans Best Friend?The Associations Worst Enemy | 160 |
Procedures for Conducting Informal and Administrative Hearings for Cooperatives Condominiums and Homeowners Associations | 164 |
Conclusion | 169 |
About the Author | 171 |
Other editions - View all
Guilt by Association: A Survival Guide for Homeowners, Board Members and ... Jordan I. Shifrin No preview available - 2001 |
Guilt By Association: A Survival Guide for Homeowners, Board Members and ... J.C. Simmons No preview available - 2003 |
Common terms and phrases
action adopted agenda agreement amendments and/or annual approval asso association’s authority ballots Board meeting Board members Board of Directors budget by_laws Carl Sandburg Village Chapter co_op collection committee common areas condominium association Condominium Property Act contract contractors cooperative copies costs court covenants Cumulative voting day_to_day declaration defects delinquent developer discuss dispute documents election employees enforce established eviction flood insurance foreclosure governing homeowners association Illinois Condominium Property individual initial inspection insurance coverage lease legal counsel lender liability limit litigation long_term maintain maintenance management company master policy matters ment minutes mortgage notice open meeting operating ownership payment preemptive right prepared prior problems procedures professional Profit Corporation Act property manager protect proxies purchase recommended records repair reserves residents responsibility restrictions restrictive covenant rules and regulations special assessments specific statute step_by_step tenant termination tion townhome unit owners violations vote