Association Terminology

• Advises and guides the association's governing body. 
• Demonstrates professional loyalty to the Board. 
• Performs duties diligently for the Board. 
• Manages specified financial activities.
• Conducts on-site property inspections.
• Evaluates bids for association services. 
• Supervises maintenance and contractors. 
• Approves payments for association services. 
• Complies with Bylaws and State agency oversight. 

•  Acts as the chief executive officer and leader of the association.
• Presides over all board and membership meetings.
• Executes legal documents on behalf of the association.
• Sets meeting agendas and controls meeting procedures.
• Represents the board to residents.
• May nominate or appoint committee members.

• Steps in to fulfill the President's duties in their absence.
• Shares certain responsibilities with the President.
• Often serves as a liaison for specific staff, contractors, and committees.

• Prepares and distributes meeting agendas and minutes.
• Maintains records of all meetings and official correspondence.
• Manages the association's official records, including contracts and membership roster.
• Receives and maintains all proxies and attests to certain documents.

• Collaborates with staff, contractors, and committees to create the annual budget.
• Keeps records of all association financial transactions and disbursements.
• Prepares periodic financial reports and arranges independent financial audits.

• Focuses on maintaining property value and quality of life for the community.
• Aims for smooth governance and enforcement of rules.
• Establishes and maintains budgets.

•  Prioritizes the welfare of their residences.
• Expects services and decisions from the Board that enhance quality of life.
• Issues may arise from unrealistic expectations or specialized interests.

• Works in harmony with homeowners, the board, and the management company's realities.
• Solves problems, multitasks, and handles potential friction.

• State law
• Declaration of Covenants or Master Deed
• Conditions and Restrictions
• Bylaws
• Rules and Regulations
• Plats of Survey and Easement Agreements

Authorizes the creation of condominium/townhome ownership, outlining ownership rights, obligations, association duties, powers, and the dissolution process. 

 Authorizes the creation of condominium/townhome ownership, outlining ownership rights, obligations, association duties, powers, and the dissolution process. 

Establishes units, common elements, and covenants, including ownership allocation, funding obligations, association powers, and rule enforcement. 

Includes individual unit deed. 

Establishes the association as a corporation, defining membership and board creation procedures. 

Details operational provisions from the Declaration and Articles of Incorporation, covering association operations, meetings, elections, powers, committees, insurance, and rule enforcement. 

Outlines association's operational powers, provisions, and usage restrictions. 

Details common property and individual lots' nature and location. 

Enforces covenants for all properties, ensuring automatic association membership, voting rights, funding obligations, usage restrictions, and association enforcement powers. 

Establishes the association as a legal entity under state corporate statute, defining board powers, membership responsibilities, board creation procedures, and voting systems. 

Specifies intricate details from CC&Rs and Articles of Incorporation regarding association operations, covering meeting processes, election procedures, powers, board duties, committee roles, insurance requirements, and rule-making and enforcement. 

Outlines association operational powers, provisions, and usage restrictions. 

• Prohibition of racial discrimination

• Applies to the sale of residences. It doesn't forbid discrimination by owners selling or renting three or fewer homes. 

• Refers to the fair and impartial treatment of individuals or entities applying for credit or financing opportunities within the association. It prohibits discrimination based on specific factors such as race, color, religion, national origin, sex, marital status, age, or because an individual receives public assistance. 

• Mandates that individuals with disabilities should be allowed, at their expense, to make necessary accommodations. 

• Prohibition of discrimination by the Board while exercising its first right of refusal. 
• Associations must comply with laws preventing discrimination against families with children. 

Involves the Board addressing future costs for major facility repairs and replacements by establishing a capital reserve system. This assures available funds when needed, preparing for upcoming facility expenses.

Records revenue as it's earned (not when received) and expenses as they're incurred (not when paid). It allows a more precise financial assessment at any time and is ideal for multi-year capital reserve tracking. Its main drawback is the increased complexity and technical expertise required to manage records and comprehend reports. 

Logs income and expenses when cash exchanges occur. Financial reports reflect only cash transactions. It's a straightforward system for basic scenarios. As all obligations are not recorded until cash changes hands, this method doesn't accurately depict the association's financial status at any moment.