Your Home is Your Castle
Homeowners Association Management
by
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Your Home is Your Castle
Homeowners Association Management
By: Richard S. Blumenfeld
A middle-aged man went in to see his Doctor for an annual physical. As he was getting dressed, the doctor came in, sullen and visibly shaken. The man asked, “Doc, what’s wrong?” The doctor quietly explained that he had a rare disease and that he had only one year to live.
The patient asked, “Doctor Schwartz what should I do, what should I do?” The wise doctor thought for what seemed an eternity. With joy, he suggested the patient do the following as quickly as possible:
· Sell your home
· Move to
· Buy a condominium in a large ocean front community
· Run for and get elected to the condominium board of directors
“I don’t understand. Will that make me better? Will it make me live longer, the patient asked?” No the wise doctor commented, but it will be the longest one year of your life.
Homeowner associations in residential communities have become common and almost expected. Nearly 30% of the American population lives in a community with a homeowners association. This book was written for an audience consisting of management companies, developers of residential housing and active homeowners or board members. A secondary audience is persons interested in starting their own management business. Often, people think it is a field with easy entry and primarily common sense. Most do not realize the case law applicable to homeowner association management and the details required to be successful. This book should be utilized as a manual. Not necessarily a step-by-step manual, but nonetheless a manual to prepare people for the responsibility of managing a residential HOA. The book will identify problem areas, and methods to approach rectifying these problems. Explanations will be provided with sufficient detail, but with the understanding that the reader is educated and generally knowledgeable of issues applicable to homeowner association management and membership.
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About the Book
Your Home is Your Castle was written by Richard Blumenfeld as a manual for those interested in the management of residential homeowner associations. Years ago, developers saw homeowner associations as troublesome components of their primary function to build and successfully sell housing. The popularity of homeowner associations forced developers to rethink their philosophy and include associations as a part of their offering. Unfortunately, many do not understand the complexity of homeowner associations. Developers take shortcuts and the results are often disaster.
Homeowners feel secure that their homeowner association will protect their home’s values and enhance their quality of life. However, they seldom understand their responsibilities and the work that goes into making an HOA a success. Homeowner associations must be operated as a business, and there is no room for personal agendas. Understanding of case law applicable to homeowner associations is mandatory.
Do owners read their Declaration of Covenants and do they understand the bylaws of their community? Do developers strive to create a set of HOA documents that are appropriate for their homeowners? Your Home is Your Castle is a common sense road map that can be followed by developers, homeowners, management companies, and those considering entering the HOA management business.
About the Author
Rick Blumenfeld is among the rare breed who came to the big city with no job, big dreams and $50.00 in his pocket. He survived hard times and prospered. While living in
Rick has been involved in the management of residential homeowner associations since 1980 including owning one of the largest homeowner association management companies in the
Your Home is Your Castle was written as a road map for those interested in homeowner association management. It is the author’s hope that this book will be read by management companies, developers and board members and that their skills will be enhanced by their reading.
Mr. Blumenfeld is in the process of forming a new company that will provide financial management services to homeowner associations. His collaborators include a respected CPA firm, an HOA software provider, and one of the most active banks in the United States, formed exclusively for homeowner associations. It is his contention that most associations still under the rule of developers should be self-managed as well as many community associations under the control of homeowners.