Managing Agent

The “Managing Agent” category contains articles of information on topics that related to a homeowner association’s managing agent.

Accounting Assistant Steals $148,000 from HOA by Setting Up Company with a Similar Name

/ Finances, Managing Agent
Accounting Assistant Steals $148,000 from HOA by Setting Up Company with a Similar Name The Real Deal, a South Florida real estate news provider, has reported that a former accounting assistant in Miami-Dade has been arrested and charged with first-degree grand theft and organized crime to defraud more than $50,00 ...
Read More

Appellate Court Rejects Class Action Claims Against HOA Management Companies Over Transfer Fees

Appellate Court Rejects Class Action Claims Against HOA Management Companies Over Transfer Fees A California Court of Appeal issued a decision clarifying a community association manager’s ability to charge transfer fees upon a change of ownership. The appellate court rejected potential class action claims against a management company for charging ...
Read More

Are Your HOA’s Funds Being Properly Handled and Invested?

/ Finances, Managing Agent
Are Your HOA's Funds Being Properly Handled and Invested? The management and operation of a homeowners association (“Association”) results in the Association coming into possession of large sums of funds to cover operating expenses and HOA reserves. Over a period of time, the reserve for HOA funds can grow to ...
Read More

Association Use of IRS Form 1120-H

/ Finances, Managing Agent
An IRS Form 1120-H is the tax filing form used by homeowners associations that want to take advantage of certain tax benefits that allow the association to exclude "exempt function income" from the association's gross income. Exempt function income consists of membership dues, fees, or assessments from (a) owners of ...
Read More

Beware of Contracts That Automatically Renew

/ Managing Agent
Beware of Contracts That Automatically Renew An article in the L.A. Times on January 12, 2014, highlights the importance of knowing the contents of the agreements that a homeowners association enters into. Frequently, homeowners associations find themselves bound to agreements that contain provisions that are not in the association’s best ...
Read More

Class-Action Lawsuits are Being Filed Against HOAs for Charging Excessive Fees

The Miami Herald has reported the filing of a class-action lawsuit against a homeowners association for allegedly violating Florida’s state laws governing the maximum amount that a homeowners association can charge for transfer fees in connection with the sale or lease of a separate interest that is part of the ...
Read More

Does Your Homeowners Association Have a Website?

/ Managing Agent
Does Your Homeowners Association Have a Website? In this age of technology and the growing integration of the internet into so many aspects of routine living, more and more homeowners associations are discovering the benefits of establishing internet websites for their community. Such websites provide homeowners association members with 24/7 ...
Read More

Education Matters! Ongoing Training for Community Managers and HOA Board Members

/ Managing Agent
Education Matters! Ongoing Training for Community Managers and HOA Board Members Your community management company’s primary duty is to protect and maintain the property values for the residences in your community. As part of this responsibility, top community management companies that provide portfolio and on-site management prioritize ongoing education for ...
Read More

Factors HOA’s Should Consider in Evaluating Need for Professional Management

/ Managing Agent
Factors HOA's Should Consider in Evaluating Need for Professional Management When is it beneficial for a homeowners association to employ professional management? Without regard to issues about a particular manager, or management company, every homeowners association could benefit from professional management services, but often association boards decide to forego the ...
Read More

HOAs Should Not Blindly Enter Into Property Management Agreements

/ Managing Agent
HOAs Should Not Blindly Enter Into Property Management Agreements When a homeowners association decides to retain professional management it is typically provided with a standard form management agreement that is utilized by the management company. Because those agreements have been drafted by lawyers who are retained by property management companies ...
Read More

Is Your HOA Board Fulfilling Its Responsibilities In Connection With Hiring a Property Management Company

/ Managing Agent
Is Your HOA Board Fulfilling Its Responsibilities In Connection With Hiring a Property Management Company It is commonplace for homeowners associations to retain outside property managers to assist in the management responsibilities of the association. The process of selecting and retaining the right property manager involves many considerations and preliminary ...
Read More

Necessary Skills for the Manager of a Homeowners Association

/ Managing Agent
Necessary Skills for the Manager of a Homeowners Association Choosing the right property management company for your homeowners association necessitates an understanding of the skills that are necessary for the job. A prospective manager for a homeowners association needs to possess knowledge about a multitude of topics that are regularly ...
Read More

Procedure to Investigate the Background and Qualifications of a Service Provider

/ Managing Agent
A Guide for Homeowners' Association Members and Management Personnel Selecting a third party "Service Provider" to provide goods and services to your homeowners association is a common task for your management personnel.  Service Providers are contracted by homeowners associations for several different reasons ranging from small jobs, large jobs, recurring jobs, common area ...
Read More

Professional Managers Are Not a Substitute for Action by the Board of Directors

/ Managing Agent
Professional Managers Are Not a Substitute for Action by the Board of Directors A homeowners association’s retention of outside, professional management should not be viewed as a substitute for proper management by the association’s board of directors or an abdication of responsibility by the board of directors. An association’s governing ...
Read More

Understanding Indemnification Clauses in Management Agreements

/ Managing Agent
Understanding Indemnification Clauses in Management Agreements Most agreements for providing a homeowners’ association with management services are standard form documents that have been prepared by the management company. As such, they typically contain language that has been drafted in a manner that is most protective of the manager and not ...
Read More