|RE: Daily management and CC&R's||<– Date –> <– Thread –>|
|From: Rob Sandelin (Exchange) (RobsanExchange.MICROSOFT.com)|
|Date: Mon, 9 Sep 1996 15:35:21 -0500|
John asked about daily management of your units. DO NOT, I repeat DO NOT ever put anything about the daily management of your operation into the CC&R's. This is NOT the place for such stuff. You can create endless house rules to cover all this stuff, and beleive me, the banks do not need to know this stuff unless it effects the value of the unit. Even then, tell them as little as possible about how you do things. It is NONE of their business, and sticking it in the CC&R's may very well get your mortgage requests and future resale requests rejected. Your CC&R's should be absolutely vanilla - don't mention consensus, community meals, or anything else. On this paper you want to be a CONDO, simple, staight forward, etc. 2 years after you move in, and someone wants to sell, the primary paper the banks will look at for a mortgage is the CC&R's. You may have a great understanding with a particular bank right now, but when someone sells, it is to your advantage to have any bank write a mortgage for a selling unit. You don't want to have to explain all this stuff in your CC&R's that is out of the ordinary. Use internal bylaws for the homeowners association to document your decision making, dinner patrol, kids helmet rules, whatever. And then keep those to yourself, as they only apply to you. Or bettet yet, create boiler plate bylaws for the association and keep internal rules on a separate document, refered to by date they were adopted. Related to all this, you will need to keep copies of all the minutes of every meeting that is held once you have mortagages. The banks have a legal right to access these and you can get into considerable problems should you not have them. In my state, the law says we have to keep 5 years worth of minutes in the association files. I was told by a condo attorney that all states have this in their condo acts, although the length of record keeping varies. As far as daily management decision making goes, one thing we have done is to create a system called the decision board, and anyone can post a decision form on the board for a small group decision to be made. The decision board is a bulletin board in the commonhouse that uses bright pink forms to announce upcoming small group decision meetings. Whomever shows up at the meeting makes the decision and owns it.=20 The rules are: 1.) decision has to meet guidelines for appropriate small group control - which are listed on the decision board, 2.) it has to be posted 5 days in advance so people will know about it, 3.) people can write their comments on the decision form if they wish, 4.) when the decision meeting is held the decision is written on the back of the form so the rest of us know what they did. This system has worked for us to punt the small stuff, like what are going to plant in the garden, to the folks who are interested, sparing those that are not interested endless community meeting time devoted to such.=20 Rob Sandelin=20 Sharingwood
- (no other messages in thread)
Results generated by Tiger Technologies Web hosting using MHonArc.