Part 3 – Bylaws – Understanding Governing Documents for HOAs
Living in a homeowners association, you’ve likely heard people use terms such as “Bylaws,” “Rules” or “CC&Rs.” What do they mean? An Association is actually a registered non-profit corporation in the state of Minnesota – and to be so, they have an important set of legal governing documents. Much like our country has a Declaration of Independence, Constitution, Bill of Rights, etc to function as a nation, an association has a similar document framework to act as a common interest community. The purpose of this article is to give you, as a member of a homeowner association, a basic understanding of this set of documents. Although all HOAs are slightly different, their governing documents will typically all contain the following: * Articles of Incorporation * Declaration of Covenants, Conditions and Restrictions *CC&Rs) * Bylaws * Rules and Regulations Bylaws Once an association has been formed and the Declarations laid out, it then adopts a set of bylaws. Bylaws are important for owners. The primary function of the Bylaws is to give direction on how the Association will be governed. Here are some examples of critical components of the Bylaws: * Board of Directors structure (term length, number, qualifications, etc.) * Responsibilities of the Board (policy creation and enforcement, budget setting, etc.) * Officer positions and responsibilities (President, Treasurer, Secretary, etc.) * Voting procedures and rights * Board and owner meeting requirements * Meeting notice procedures Each governing document serves a specific purpose, yet they all interact with one another to create and maintain a community homeowner association. By purchasing in an association, you created a legally binding contract between yourself and the association. That “contract” is the important documents listed above. Hopefully this breakdown is helpful. You can access these documents on your association’s website through www.sharpermanagement.com
Part 2 – CC&Rs – Understanding Governing Documents for HOAs
Living in a homeowners association, you’ve likely heard people use terms such as “Bylaws,” “Rules” or “CC&Rs.” What do they mean? An Association is actually a registered non-profit corporation in the state of Minnesota – and to be so, they have an important set of legal governing documents. Much like our country has a Declaration of Independence, Constitution, Bill of Rights, etc to function as a nation, an association has a similar document framework to act as a common interest community. The purpose of this article is to give you, as a member of a homeowner association, a basic understanding of this set of documents. Although all HOAs are slightly different, their governing documents will typically all contain the following: * Articles of Incorporation * Declaration of Covenants, Conditions and Restrictions *CC&Rs) * Bylaws * Rules and Regulations The Declaration of Covenants, Conditions and Restrictions (CC&Rs) After a developer has established an association and incorporates it, then they must file an important document with the County that lays out the rights and responsibilities of the association and the people within it. It is truly the “meat” of the association’s set of governing documents – and it sets the framework for every other document after it. Some of the common components of the Declarations include: * Definition of Unit boundaries * Identifying “common areas” and components * Listing of maintenance responsibilities (ex: owners maintain inside of “unit” and association “common areas”) * Overall rights of owners (ex: unit leasing or pet) * Owner restrictions (ex: residential use only and not business) * Overall rights of association (ex: rule creation) * Insurance requirements * Assessment procedures and requirements (special assessments, monthly assessments/”dues”) * Association’s powers to collect dues The Declaration of Covenants is, in essence, the contract between owners and the Association. It is an incredibly important and powerful legal document. Each governing document serves a specific purpose, yet they all interact with one another to create and maintain a community homeowner association. By purchasing in an association, you created a legally binding contract between yourself and the association. That “contract” is the important documents listed above. Hopefully this breakdown is helpful. You can access these documents on your association’s website through www.sharpermanagement.com
Part 1 – Articles of Incorporation – Understanding Governing Documents for HOAs
Living in a homeowners association, you’ve likely heard people use terms such as “Bylaws,” “Rules” or “CC&Rs.” What do they mean? An Association is actually a registered non-profit corporation in the state of Minnesota – and to be so, they have an important set of legal governing documents. Much like our country has a Declaration of Independence, Constitution, Bill of Rights, etc to function as a nation, an association has a similar document framework to act as a common interest community. The purpose of this article is to give you, as a member of a homeowner association, a basic understanding of this set of documents. Although all HOAs are slightly different, their governing documents will typically all contain the following: * Articles of Incorporation * Declaration of Covenants, Conditions and Restrictions *CC&Rs) * Bylaws * Rules and Regulations Articles of Incorporation A homeowner’s association is a non-profit organization and must file paperwork with the Secretary of State’s Office before a developer sells any property within the HOA. Everyone who purchases property in the HOA becomes a member of the Association. The Articles of Incorporation are typically brief and contain basic information such as an Association’s name, location, and purpose. Each governing document serves a specific purpose, yet they all interact with one another to create and maintain a community homeowner association. By purchasing in an association, you created a legally binding contract between yourself and the association. That “contract” is the important documents listed above. Hopefully this breakdown is helpful. You can access these documents on your association’s website through www.sharpermanagement.com
Natalie Martynow Joins the Sharper Management Team
Eden Prairie, MN, (April 4, 2018) – Sharper Management is pleased to welcome Natalie Martynow to its team as our newest Community Manager. Martynow brings many years of experience in property management to her new position with Sharper. She began her career as an Assistant Property Manager in the apartment field where she lived onsite in a 120-unit complex. This position gave her a first-hand look at the needs of residents and how important the role of the property manager is to a complex. She later purchased an investment property in a 402-unit condominium association. To better understand how Association’s work, she began attending Board meetings regularly. She ultimately ran for a position on the Board and later became the President. Martynow enjoys working with people. “I am thrilled to meet and help the people in our associations.” “Natalie brings a depth of experience and knowledge that will ease her integration into managing some of our larger and more complex community associations. We are excited to welcome her to our team of managers and look forward to a great partnership as she enhances how we take care of our clients,” states Matt Froehlich, owner. Founded in 2010, Sharper Management is a locally-owned, mid-sized property management company offering a full suite of premiere services to homeowner’s associations of all sizes. Sharper Management currently provides services to the Minneapolis-St. Paul seven-county area. For more information on Sharper Management services and employment opportunities, call 952-224-4777 or email to info@sharpermanagement.com.