What Do My Assessments Go Towards?
That is one of the top questions managers from Diversified Association Management get involving Homeowners Association. Below are several examples of how assessments go towards maintaining the community.
Covenant enforcement: When a violation letter is sent from Diversified Association Management it is not a form of harassment. Violation letters are sent by Diversified Association Management, on behalf of the Board of Directors, in order to inform an owner a violation of the governing documents of the Association were violated. This is an important tool the Association uses to preserve, protect and enhance the Association and Community. Making sure owners are abiding by the governing documents is just one way Diversified Association Management helps to ensure the property values of a community maintain or stay higher than surrounding areas. The most important thing a homeowner can do when receiving a violation letter is to open the lines of communication with the manager. A simple call that the letter was received and violation was corrected, an email requesting more time to correct the problem, etc, all go a long way to assist in ensuring the violation does not get escalated further, which could result in fines.
Another tool Diversified Association Management and the Board use to ensure property values maintain or stay higher than surrounding areas is to maintain the common areas. When a manager sees a maintenance issues during their site inspections, several things can occur: The manager can come back to Diversified Association Management and fill out a work order to have our maintenance technician repair the issue if it is under a certain cost threshold as established by the Board. If the cost is too high, or the repair needed is too technical; the manager usually will advise the Board and a request for proposal will be sent to vendors to bid the project out. The Board will then review and make a decision.
Lastly, probably the most important aspect of an Association, is staying current on state statues. Colorado requires all Associations register annually with DORA (Department of Regulatory Agencies). Diversified Association Management ensures the registration is completed annually and that all aspects of CCIOA (Colorado Common Interest Ownership Act) are abided. This requires an annual budget be adopted, annual owner meetings be held, board meetings be open, etc. Violations of this act can result in costly legal bills for an Association. That is why Associations must also carry insurance - which as a result of recent natural disasters here in Colorado and other states have made the premiums steadily increase each year.
Diversified Association Management works with vendors and Board members to ensure that all aspects of a community are being served and for the best possibly price to the Association.