Reminder: Common interest developments in California are required to provide  members with a budget between 30 and 90 days prior to the start of each fiscal year. If a board fails to do so, it may not increase the association’s assessments without a vote of the membership using the secret ballot process. Also, most importantly, a current reserve study is required in order for the association’s budget to be complete and accurate. For information on reserve studies: PacificReserveStudies.com

Just a reminder. All checks written to pay assessments must be payable to your homeowner association. These checks are deposited into a separate bank account for each HOA. Assessment checks should not be payable to Coast Management of California.

Given that the majority of board elections take place late in the year, many owners who would like to be on the board of their association ask us for information about running for the board about this time of the year. Whether you are on the board, or want to become a board member, there are two articles on our website that you should read: Why You Should Run for Election to the Board of Directors of Your HOA and How to Get Elected to the Board of Directors of Your HOA.

Remote or online HOA management is similar to full services management but eliminates the costs associated with an on-site presence. It provides an HOA board of directors with the ability to self-manage if desired, but provides all of the essential back-office services. Coast Management of California offers this service throughout California and beyond. For additional information: RemoteHOAManagement.net

It is important for the management at Coast Management of California to determine your level of satisfaction with our services. By evaluating your comments, we will be in a better position to take any steps necessary to improve our company and its services. This is our goal. Likewise, our survey form can help your Board of Directors improve and make decisions. Questionnaire Form.

Most homeowner associations with a December fiscal year end have already started the process of obtaining their reserve study or reserve study update so they can comply with the requirement to distribute their budget in accordance with the law. If you have any questions requiring reserve studies, please visit: PacificReserveStudies.com or call our office: 818-991-5200.

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.

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.