Transitioning from a developer-controlled association, to a resident-controlled HOA can be difficult. Here we examine this process and how you can make this change easier with our HOA transition toolkit!
At a certain point during the lifecycle of an association, the developer has to hand over control to the residents. A developer can control the association for months or even years, they commit a huge amount of resources to both the construction and the infrastructure. Therefore they often build provisions into the association’s legal documents so they can control the direction until either a set date or when a certain percent of the units have been sold.
If the developer is a good one then they should be involving and training homeowners from the beginning, and creating advisory committees. The transition happens at a special meeting, and what changes is that the developer is no longer in control. They will probably still be involved in the association, possibly selling units and they may retain seats on the Board.
The new Board has a huge responsibility, they ensure that the developer gives them all the necessary information, they review the information and ask the developer questions about anything vague or unclear in any documents. Finally, they have to come up with a strategic plan. This involves a lot of work, and nothing can be forgotten or left until the last minute.
To help you to keep track of everything that needs to be done during the transition period Vinteum has created an HOA transition toolkit for this exact purpose!
In our Google Spreadsheets version, you can add tasks that need to be completed, divide them into categories and track your progress through our graphs! We have included some example tasks but you can remove or change them as you wish, it is fully customizable to fit your HOA or condo!
Our PDF version is streamlined to be a checklist that you can print out and use the old fashioned way.
We wish you the best of luck in the HOA transition, and hope that our toolkit is helpful.