HUDSON MANAGEMENT COMPANY
What is an HOA or Homeowner Association?
A Homeowners Association (HOA) is a non-profit organization, formally called a Common Interest Development (CID), that collects assessments from Homeowners and elects a Board of Directors to effectively run and manage the Association and its money. Often times, the Board hires a Management Company to assist with this managing, including bookkeeping and facilitating maintenance obligations as defined by the Covenants, Conditions, and Restrictions (CC&Rs) set forth for an HOA. HOAs can be single-family homes, attached townhome style units, or condominiums. The important thing to remember is that each HOA is different, with different assessment amounts and frequencies and has different restrictions as stipulated in their governing documents.
What are governing documents?
Governing documents are made up of the Articles of Incorporation, Bylaws, and Covenants, Conditions and Restrictions (CC&Rs). These documents are the guideline for governance of an Association. When a developer creates an Association they must, by law, create Governing Documents. These documents explain what is and is not allowed in an Association, how frequently assessments are paid, maintenance responsibilities and more. But be aware that not all Governing Documents are alike, meaning that each Association is different. Additionally, new laws are introduced every year, often superseding these documents and making it difficult to know which set of rules to follow. If you need assistance with your Governing Documents, contact us for help!
Do I have to pay my assessments?
Yes. Purchasing a home or unit in a HOA means you are automatically a member and subject to restrictions and rules set forth in the Governing Documents.
Who is the Board of Directors and what do they do?
The Board of Directors is a group of homeowners that are elected to the Board by other owners. The size of the Board depends on what is stipulated in your Association's governing documents. The Board of Directors are the decision makers for the Association. They are responsible for the smooth operation of your Association, enforcing the rules and ensuring assessments are paid.
How can I become a Board member?
Great question! There is typically an election held once a year for any open positions on the Board. Look out in the mail for a call for candidates and let us know you are interested! If you have questions about when to expect this in the mail, please reach out to Customer Service by emailing email@example.com, or use our Contact Us page or message option on the bottom right hand side of this webpage.
What is a management company and what are they responsible for?
A management company is contracted with the Association to carry out tasks as assigned and requested by the Board of Directors. While the Board still makes all the decisions for your Association, your management company is there to help ensure those decisions are carried out and provide any and all resources needed to help the Board make these decisions. This includes conducting site visits, obtaining pricing for projects, sending letters and correspondence to owners, collecting assessments and handling the finances of the Association, and more! Possibly the most important role your management company has is as a risk mitigator for the Association; your manager should help ensure the Board is acting in compliance with the governing documents and Civil Code, and avoiding any possible liability to the Association.
Have any other questions? No problem! Simply click the message icon on the bottom right hand side of this webpage to reach out to our team. We would be happy to answer any questions you may have!