HOA Developer Services
Contact our Association Department:
888-846-5963 Emergency After Hours
The birth and management of a new community is uniquely different than managing existing established homeowner associations. While the developer controls the Board of Directors, they also must ensure that the association complies with all state statutes and of course the association’s governing documents.
TMG’s HOA Developer Services help prepare for first-time sales within a developing community. This process can be a very time-consuming and exasperating for the developer. Ninety percent of the problems encountered in newly-developed homeowner associations can be attributed to common errors and oversights which occur during the set-up process. Finding a community association management company that knows the requirements, are experts at setting up documents, and who can build a proper database for first-time sales is imperative to the expeditious processing of loans and a smooth-running association.
- Preliminary review of the association’s governing documents
- Build-out budget assistance to help determine an appropriate assessment rate
- Development of Rules and Regulations, Resolutions and Collection Policies
- Obtain proposals for all necessary insurance including property, liability, directors and officers, fidelity, and umbrella coverages
- Negotiate with contractors for trash removal, landscaping, pool management, water, gas, electricity, and other association services as necessary
- Complete lender questionnaires
- Provide builder title companies with closing instructions for association fees to be collected on “Builder-to-Homeowner” transactions
- Prepare welcome packages and homeowner association information
- Manage the day-to-day operations of the association
- In addition to monthly financial statements, provide reports that track income and expenses to monitor developer’s subsidies
- Serve as the Registered Agent to receive association notifications, as required by the state Corporation Commission
- Apply for Employer Identification Number (EIN) as needed for non-profit corporations in order to open bank accounts and file taxes
- Open necessary bank accounts on behalf of the association to include operating and reserve accounts (as required)
- Coordinate obtaining a reserve study to ensure the proper funding of the reserve account is started as soon as possible
- Establish a TAC (Transitional Advisory Committee) and facilitate the transition of administrative control from the Board of Directors of the HOA (declarant) to the Board of Directors of the HOA (homeowners)
- Coordinate and facilitate the turnover meeting and transition process from developer management to owner/member managed
To learn more about how we can better assist you, please call and learn why so many clients, lenders and other real estate professionals recommend TMG!
We believe in the value of our service and the positive impact it can have on the lives of the homeowners living in TMG managed communities. With over 30 years of experience in the association management industry, we use our expertise to help community associations enhance their financial and physical attributes. Retaining TMG as your property management company ensures you have solid business partner with the knowledge and a team of professionals at your disposal.
Lynda DuLong – Associate Vice President
- (360) 397-0288 Washington
- (503) 858-1094 Oregon
Michelle Richardson-Blue – Associate Vice President
Business Development, Operations
- (503) 858-1087