Condo community management companies can help board members comply with your state’s legal requirements. The companies promote compliance by hiring professionals to inspect and report any breaches. Here are some regulations Washington State requires condo associations to follow:

Creating a Budget

Budgets help the board maintain and handle other operations without overspending and financial strain. Washington State requires these governing boards to create and ratify budgets for every financial year. A condo community management company may guide your property’s association in creating transparent and accurate budgets.

Some components of condominium budgets include miscellaneous earnings, assessments, operating costs, and reserve funds. Income earned miscellaneously may include fines and reserve fund interests. Associations use the money saved in reserve accounts to cater to repairs and other property upgrades.

The law requires the governing board to notify you of a ratification meeting within a certain time frame to give adequate warning and time to plan. Community management uses the meeting to give you the budget summary and enlighten you on various components. The developers or property owners then vote to accept or reject the proposed budget.

Maintaining Community Documents

Experienced management companies help new board members handle and maintain various governing records. Board members must have documents like bylaws, declarations, and articles of incorporation. The records define the restrictions and responsibilities of the property’s management board.

The documents show that Washington State identifies your community association as a legal entity or corporation. They contain laws the governing board should follow to comply with the set condominium association policies. Bylaws inform the board officers of their roles and duration of service.

Assessing Potential Tenants

The community board members must examine the application forms submitted by potential occupants to remain compliant. This process allows the members to identify genuine tenants. Screening of potential tenants involves checking their histories for previous evictions or crimes committed.

The board must also evaluate the employment or financial status of the occupant. This allows associations to identify financially stable occupants who can pay rent as per the lease contract. Assessing new tenants can help prevent unnecessary evictions and possible legal actions later.

Resolving Conflicts

Resolving disputes in these properties helps promote good relationships between the developers and occupants. The managing entities work with the occupants to address various conflicts without filing lawsuits. Disputes among the occupants may result from improper usage of common areas, pets, or disturbances or noises.

The board can apply effective methods like mediation and conciliation to resolve disputes. Alternative dispute resolution methods also enable managing corporations to reach fair conclusions when resolving conflicts. This governing board prioritizes open communication to understand the occupants’ disputes and develop appropriate solutions.

Maintaining the Property

Corporations managing these communities must conduct regular inspections and repairs to enhance occupants’ safety and comfort. A well-maintained property is also appealing and commonly something new tenants look for when searching for condominiums. The governing corporations must communicate any repairs to the members upfront to prevent disruptions and unexpected accidents.

Choosing Board Directors

Boards in these communities are responsible for implementing the state’s association policies. The board may also employ building managers, security guards, and other workers. Washington state bars directors of the board from changing documents without seeking approval from property owners.

The directors can hire new members of the board whenever there is any vacant position. This board must have a treasurer who prepares the annual budget and presents its summary to developers. The directors must organize a meeting with the property owners to approve or ratify the budget.

Contact a Condo Community Management Company

Associations complying with your state’s policies can help prevent liabilities like property damage and lawsuits. They formulate policies that protect the rights of the occupants and the developers. Call a reputable condo community management company to help you comply with Washington State policies.