FREQUENTLY ASKED QUESTIONS
The Association is a non-profit corporation managed by a Board of Directors elected by the owners. The Board is responsible for the management of the Association’s funds, the enforcement of the deed restrictions, and the maintenance of common area property. They were created to protect and preserve property values.
Nevada law distinguishes the two types of managers and licenses them differently. Community managers assist Associations only and do not lease or sell property. Community Managers oversee the management of common areas only. Property managers oversee individual rental homes in a community including finding tenants, collecting rent and maintaining privately-owned properties.
All owners of a unit within a common interest community automatically become a member of the Association and are required to pay the assessments associated with the deed restrictions the developer placed on the property.
It is the land for the use and enjoyment of the members of the Association. This includes facilities like pools and playgrounds in single family communities. For condominium communities, common areas include such items as hallways, exercise facilities and building structures. Common areas may also include landscaping, gates, streets, utilities and clubhouse. To determine what is common area for your association, you will need to familiarize yourself with your association governing documents.
The demand statement is a disclosure by the Association, usually ordered before a home closes escrow, of the amount of the recurring assessments and whether the Association may foreclose to collect the assessment. It further notifies the buyer whether the seller of the property is paid up on all assessments and whether there are any violations affecting the real property being sold. Click Here for Condocerts.
The Association’s insurance typically includes property and casualty policies for all common area property and equipment. In condominium associations this often includes the structure of the building. It also usually includes Liability and Directors & Officers policies that cover Directors, Committee Members and volunteers working on behalf of the Association. If you live in an association, your interior of your unit/home may not be covered. Please consult with your insurance agent to see what insurance coverages you need to obtain.
The Board of Directors must hold meetings in accordance with their Bylaws. They may be required to meet monthly, but Nevada Law requires that they meet a minimum of every 100 days. Check with your management representative or your governing documents for the requirements of your association. Notices for all meetings are mailed out a minimum of 10 days prior to all meetings.
There are typically many roles in which a volunteer can assist their community. Committees often serve a valuable role by assisting the Board of Directors in its responsibilities. Contact your management representative to find out where your talents can be best used!
All owners are required to pay Association Assessments by the governing documents of their Association. The Assessments may be due annually, quarterly, or monthly. Assessments fund the operation and maintenance of the common areas, provide services for the benefit of all owners, and cover replacement costs for common elements.
The maintenance and management services incurred by the Association are dependent upon timely receipt of assessments due from each homeowner. Late payments will result in late fees and interest charges. In addition, the CC&R’s may allow the Association to proceed with a lien on your property or foreclosure proceedings for nonpayment of assessments.
Owners may elect to pay their Association Assessments via check, credit card or automatically withdrawn from their bank account. All checks must be accompanied by the “assessment coupon” and should be mailed directly to the bank shown on the coupon. The bank cannot accept payments without an assessment coupon. Click here for your association Payment Options.
The governing documents and Nevada law requires an initial budget from the developer for each community that is proposed to be built. This budget is set upon specific guidelines for utilities, landscaping, administration, etc. A reserve fund is established for future expenses to provide funds for the maintenance and replacement of capital items such as lighting, street resurfacing, equipment, etc. These amounts are usually then divided by the number of units built in a given phase/development or by the total square footage of all dwelling units in the development. Please refer to your association governing documents to determine exactly what methodology is being used to determine your association’s assessment structure. Subsequent budgets are developed by the Board of Directors and adjusted periodically to meet anticipated expenses.
There is no concrete answer for this. Typically the governing documents provides for annual increases, but not to exceed a certain percentage per year without a vote of the membership. The Board of Directors may approve a budget which increases the assessments up to the allowable percentage by the governing documents in order to cover increased costs of operating and maintaining the Association’s property. It is expected that the assessments will increase over time to minimally compensate for inflation in goods and services used in the managing of the HOA.
The managing agent is a company hired by the Board of Directors to assist the Board of Directors with the day-to-day operation of the Association and to implement the policies and decisions as determined by the Board of Directors. Level’s sole business is serving Associations as a managing agent.
The managing agent has no authority except as authorized by the Board of Directors. The managing agent does not make decisions. It carries out the decisions of the Board.
The “Governing Documents” for your association are the Articles of Incorporation, Bylaws, Declaration of Covenants, Conditions and Restrictions (commonly called CC&R’s) plus any Rules and Regulations, Resolutions or Policies that have been established for your Association.
All owners receive a copy of their associations governing documents prior to closing on their home. If you need another set of governing documents, they are available through your Association and/or its managing agent. You may purchase an additional set of documents from the management company for a minimal copy charge.
A deed restriction is part of the Declaration of Covenants, Conditions and Restrictions that homeowners agree to abide by while buying a home. Through this document, homeowners agree to certain standards of maintenance, upkeep and behavior in order to make the community as attractive as possible by maintaining or enhancing property values.
When you purchase a home in a deed restricted community all homeowners must comply with the restrictions in place for the community. This ensures that the integrity of the community is maintained. Homeowners that do not comply with a deed restriction will be sent a courtesy notice and potentially be called in to a hearing before the Board of Directors where fines and/or other penalties allowed by state statute may be charged.
If you do not reside in this property full time, please notify us of your preferred mailing address that you would like your assessment statement and other association mailings sent. We also request emergency contact information to be used for critical issues. Occupant Information Form or Authorized Agent Form.
Prior permission ensures that your intended improvement meets your community’s standards as set forth in the Governing Documents. This also helps avoid problems that arise from the construction of improvements and the use of colors or styles that conflict with others in your neighborhood. An architectural application is mailed with your welcome packet to new homeowners. If you need an additional copy of an architectural application it is available online or you may contact Level for an additional copy.