Our HOA Blog is added to several times each month so please visit it often. If you would like to respond to any blog, please contact us.
If you have not recently refinanced your condominium, you may want to do so now. Rates are starting to increase. While we do not provide financing services, we are observing the increase in interest rates each week. Many of our clients are saving thousands of dollars each year while consolidating debts and lowering monthly payments.
We have just created a new section of our website for: All New Board Members and Board Members New to Coast Management of California. We believe all board members will find it useful, but especially if you are a new board member.
Most board members are aware that with few exceptions, homeowner associations are required by law to obtain a reserve study every three years and to update it if necessary, each year in between.
Following is a timeline for HOA budgets and reserve studies that assume a December 31 fiscal year end.
|May 1||Authorize reserve study provider to start reserve study process.|
|July 1||Send reserve study to board for approval.|
|August 1||Send budget draft to board for their review.|
|October 1||Send budget for next fiscal year to owners.|
|December 1||Last day to send budget for next fiscal year to owners.|
|December 31||Fiscal year-end.|
It is common for our HOA clients to hold board meetings where a representative from Coast Management of California is not in attendance. Minutes of these meetings must be prepared, approved, and a copy sent to the manager with a copy to Tina Chulak. Please see Minutes of Board Meetings and Board Meeting Definition.
Most board members are aware that their management company, accountant, and attorney cannot serve as the inspector of elections for their homeowner association. While Coast Management of California and its officers and employees are included, we would like to direct you to the website: HOAInspectorofElections.org for valuable information about the election process.
Our list of articles for HOA board members and future board members continues to be expanded. The list and all articles can be found on this website. They are intended to assist your board manage your association while complying with the Davis-Stirling Act.
Coast Management of California is growing. Therefore, we are in need of an additional HOA portfolio manager with a minimum of two years of management experience and a basic knowledge of the Davis-Stirling Act. Please provide us with a resume and cover letter if you would like to join a successful company.
Just a reminder. The office is open Monday through Friday from 9:00 am to Noon and from 1:00 pm to 5:30 pm. Our emergency number is for genuine emergencies that threaten the life, health, or safety of a person or threaten material damage to property. Please add the number to your cell phone: 818-699-5008
Coast Management of California