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What questions should you be asking your Home Owners Association?

It is likely like your home or condomium has a Homeowners Association or Condominium Owners Association managing your neighborhood. We recently learned that many HOAs are not providing their members valuable information. So what questions should you be asking your Association Management Company to ensure your property and your money is being managed with the utmost professionalism and transparency? Here are some suggested questions to ask at your next annual meeting:
What does my Association’s insurance cover and what type of insurance do I need to obtain as an owner?

What areas of repair am I responsible for at my property and what repairs will my Association dues cover?

Will my Association be charged for fees other than stated in the management contract?

Where will meeting notices be posted and how far in advance of the meeting will they be made available to the ownership?

Where can I obtain a copy of the meeting minutes?

Does my Association Management Company have a preferred vendor list consisting of reputable, local companies with established relationships?

Are my Association’s monthly financial statements available to all owners and how do I obtain a copy?

What opportunities for homeowner involvement are available to me?

The proper management of your Association coupled with your involvement as a homeowner is critical to the quality of your property, both in the pleasure your ownership brings to you and in the appreciation on your investment. We strongly suggest that you research the above questions and assume a very important role in the operation of your Association.
With Newman-Dailey Association Management, you have full access to all of the above information. Call us at (850) 837-1071 or contact us by email at [email protected]. We are happy to answer any questions. 

See you @ the beach!

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Published by Tracy Louthain
Monday, August 1, 2016