An association is a nonprofit corporation or sometimes an unincorporated association created to manage a common interest development. The association provides the means for the ownership and use of recreational facilities and other commonly used amenities. The association achieves architectural control, rules enforcement and a base for homeowner social interaction.
Your association is a corporation by law and therefore must be managed by a governing board just like any other corporation. The Board of Directors is the body elected by the members of the association to run the business of the association. The Board establishes rules and regulations, oversees the maintenance of the common area, enforces the governing documents and sets the annual the budget. The Board is the decision-making body for all association business.
The board members are elected by the membership and an annual election is held each year. The qualifications for a board member are listed in your association’s governing documents.
Board meeting dates and times are set by the Board. Please contact Powerstone Property Management or refer to the calendar for your association’s board meeting date, time and location. Homeowners are permitted to attend the regular session meetings of the Board and may be given an opportunity to speak during Homeowner Forum. The Board may also meet in Executive Session to discuss sensitive issues defined in the law and homeowners are no permitted to attend those meetings.
The Covenants, Conditions and Restrictions is a legal document, a covenant that runs with the land and is binding on future owners. It establishes the rules for how your association is governed, establishes maintenance responsibilities, insurance requirements, assessment provisions and use restrictions among other things. The CC&Rs empower the Board of Directors to act on behalf of the Association and create policies, restrictions and rules for the use and enjoyment of the property.
The By-Laws include provisions regarding the organization structure of the association, its board of directors, membership and voting. It includes duties and powers of the board of directors, qualifications and term of office for the board of directors and establishes the quorum requirements for different types of meetings.
The Article of Incorporation is the document filed with the Secretary of State establishing the association as a legal corporation. They contain the legal name of the association and the purpose of the corporation.
The Rules and Regulations are drafted by the Board of Directors with authority to do so from the CC&Rs. They are typically drafted to clarify the legal language in the CC&Rs and provide guidance on issues not covered in the original CC&Rs.
All homeowners pay a regular assessment. The assessment is used for the maintenance and administration of the association. The association’s budget will describe the various line items for which the assessment is used.
The CC&Rs provide remedies for the association if a member does not pay their assessment. This includes filing a lien which could eventually result in the foreclosure of your home. Your association’s Assessment Collection Procedure provide specific details of the course of action the association will take for failure to pay assessments. The law and the governing documents provide significant protection for the association since it would not be able to operate without the assessment revenue.
You can contact Powerstone's billing department at 949-716-3998 or firstname.lastname@example.org.
A management company is hired by your association’s board of directors to act as an agent on behalf of the association in the operation and administration of the association’s business. The management company attends board meetings, provides advice and counsel to the Board and acts as the liaison between the board and homeowners and the board and vendors. The management company provides accounting services, prepares the monthly financial statement, handles billing and collection of delinquent accounts in accordance with the policies established by the Board and the law.
Powerstone Property Management is open from 8:00 am to 5:00 pm, Monday through Friday.
The management company has a 24 hour 7 days per week emergency service for you to contact. Please call 800-408-2242 for any property threatening emergencies after hours. This includes plumbing leaks, irrigation leaks, downed trees, flooding, etc. The answering service will dispatch your call and a member of Powerstone’s staff will contact you and take appropriate action.