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FAQ's
We've compiled a list of some Frequently Asked Questions below. If you can't find the question/answer you are looking for on this page. If you have a specific question, click Ask A Question and we'll get back to you with an answer.
Q: What is a "management company," what do they do, and how do I reach them?
A: A management company is contracted by the Board of Directors to provide such services as: collection of assessments, supervision of subcontractors, obtaining bids for subcontracted services, providing financial statements and collection reports, as well as providing information to resolve problems, and responding to the homeowners and the Board of Directors. The management company reports directly to the Board and all decisions are made by a majority vote of the Board of Directors.
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Q: What is a homeowner's association?
A: It is a non-profit corporation registered with the State and managed by a duly elected Board of Directors. Its purpose is to maintain all common areas and to govern the community in accordance with the provision of the legal documents: CC&R's, Bylaws, and Articles of Incorporation. The corporation is financially supported by all members of the homeowners association through the monthly common fee.
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Q: What are the “Documents”?
A: The documents are also known as the “Covenants, Conditions and Restrictions.” They are the governing legal documents that set up the guidelines for the operation of the community as a non-profit corporation, and are recorded in the town where the property is located. The documents are also included in the title to your property.
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Q: What are the Bylaws?
A: The Bylaws are the guidelines for the operation of the non-profit corporation. The Bylaws define the duties of the various offices of the Board of Directors, the terms of the Directors, the membership's voting rights, required meetings and notices of meetings, and the principal office of the Association, as well as other specific items that are necessary to run the Association as a business.
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Q: What is the Board of Directors?
A: The Homeowner's Association again is a corporation and therefore a governing body that is required to oversee its business. The Board of Directors is elected by the homeowners, or as otherwise specified in the bylaws.
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Q: Are there any other rules?
A: Most associations have developed Rules and Regulations as provided for in the documents and adopted by the Board of Directors. Rules are established to provide direction to the homeowners for common courtesies with regard to parking, vehicles, pets and pool use hours, etc. In addition, some Associations will adopt Architectural Guidelines with procedures for submitting requests to make exterior changes to your home. Such changes may include patio covers, decks, landscaping, exterior color changes or extensive interior changes and additions. These rules and guidelines are set up to maintain the aesthetic value and integrity of the community on behalf of all owners, and hopefully protect the market value of your investment as well.
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Q: If I am having a problem with a neighbor for a violation of the Policies and Guidelines, what can I do?
A: If residents cannot resolve a situation between themselves, then contact your Association. If the situation is deemed in violation of the Policies and Guidelines, the Board of Directors will institute the enforcement policy. Your continued assistance may be required.
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Q: What is my assessment?
A: The assessment is the periodic amount due from each homeowner to cover the operating expenses of the common areas and provide for reserve funds for replacement of common facilities in future years. Your assessments are due on the first of the month.
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Q: How is the amount of my assessment determined?
A: The Association typically requires an initial budget from the developer for each community that a developer proposes to build. This budget is set upon specific guidelines for utilities, landscaping, administration, etc. Reserve funds are monies set aside for future expenses due to the life expectancy of certain items: lighting, street resurfacing, pool equipment, etc. These amounts are then divided by the percentage of ownership interest. Subsequent budgets are developed by the Board of Directors and adjusted periodically to meet anticipated expenses.
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Q: What happens if I don't pay my assessment?
A: The maintenance and management services incurred by the Association are dependent upon timely receipt of the assessments due from each homeowner. Late payments will result in a late charge as assessments are due on the first of the month. In addition, the documents allow the Association to charge late charges and interest. In Connecticut, a statutory lien secures the property until payment is made.
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