HOAs are created under and regulated by state laws, which typically require the first HOA meeting to be held within a certain period of time after the first unit in a development gets sold. The first governing board is elected at this meeting, with all positions filled and information about the candidates circulated prior to the meeting.
The HOA board is expected to take the lead in the maintenance of common areas and building exteriors, as established in the declaration or bylaws. In most associations, parts of the property shared between homeowners are maintained by the HOA. The board is also tasked to manage budgets and assessments, from establishing a budget to collecting assessments. Other common duties include compliance with federal and state laws, managing financial health, making business judgment, and adopting and enforcing rules.
Above all, the board is expected to have a good grasp of the concept of an HOA, which is the cornerstone of a planned residential community. Among the major objectives is to bring order and continuity to this community, as well as promote a sense of community while protecting the property values of the neighborhood.
AMMCOR, Inc. has been providing top-notch service to Orange County homes since 1979. A Homeowners Association management company servicing over 15,000 homes, AMMCOR has grown in size and quality. Read more about its services on this page.