Oak Hills Terrace Townhomes Board Brief

Transcription

1 Oak Hills Terrace Townhomes Board Brief SPECIAL EDITION Spring 2006 Vol. 1, Number 1 Greetings to All Oak Hills Terrace Residents! WHAT WE VE DONE: It s been a little over three months since the Oak Hills Terrace Townhomes Assn (OHTTA) Annual Meeting & election and since then, the Board Directors has spent a majority of its time and energy focusing on behind the scenes items such as: research/resolution of long standing legal matters; overseeing a complete audit of ALL of the Associations financial accounts; prepping the 2005 corporate income taxes; regaining good standing status with the Bexar Appraisal District (property taxes on our streets & common areas have not been paid in 10+ years); making application for a current swimming pool license (ours expired in 2004) AND remedying the deficits discovered by San Antonio Metropolitan Health during their inspection of our swimming pool and surrounding area (non-compliant pools are a huge no-no with the Texas Department of Health); re-evaluating current contracts & preparing requests for proposals for new ones; taking written inventory of ALL of the Associations physical assets; erecting shelves in the new on-site storage room to house corporate records (whew, it s been a non-stop frenzy purging/reorganizing 28 years worth of Association records file boxes were previously being stored in an off-site facility costing the Association +/- $75 per month); etc. Add to that, working every day and spending time w/family & friends and we definitely know what B-U-S-Y is! WHAT WE ARE PLANNING: Now that the most urgent matters seem to be under control, the Board can turn their attention toward performing maintenance & repairs required to protect/retain our property values. Because of the large volume of deferred maintenance discovered when the new Board took office, we have conducted a complete survey of the community s maintenance needs and are in the process of scheduling repairs based on the buildings requiring the most work. Our first concern is safety and fixing major problems causing damage to Owners property. In order to prioritize repairs in a systematic, cost effective, equitable manner, it was necessary for the Board to formalize a procedure in which those repairs should occur. (See attached Maintenance and Repair resolution.) Now that the resolution is in effect, Association Members as well as future Boards will know how maintenance issues are to be addressed. 1

2 OBLIGATIONS OF MEMBERSHIP IN OHTTA Membership in our Association is based on ownership of lots in the subdivision by a diverse group of people who will live within its boundaries and have agreed in principal to fund its expenses and uphold its standards in order to maintain or improve the value of the homes and the quality of life within the community. These important standards, rules and covenants are found in the OHTTA Declaration of Covenants, Conditions and Restrictions (DCCRs). **You should have received a copy from the Title Company at closing. If not, visit the OHTTA website at and print a complimentary copy for your files. The ASSESSMENT OBLIGATION FUNDING the ASSOCIATION - Did you know that the Association can foreclose on your home (even a homestead) for non-payment of assessments? Since the assessment is not a charge for services rendered, but is a standing obligation of each Owner, due on the first day of each month beginning Jan 1, it is up to the Owner to pay the assessment on time and in full without further notice, unless there are extenuating circumstances. (The consequences of non-payment are set forth in Article IV, Section 8 of the OHTTA DCCRs. See attached Delinquent Assessment Collection resolution.) The Board is willing to accept a reasonable payment plan from any Owner who may have a need to defer total payment of the assessment for a short period of time, but the owner must make an effort to address this problem to the Board in writing BEFORE the assessment becomes delinquent. Members may also pay partial payments ahead of the next due date so that the lump sum is not a burden on their budget. Like any membership organization, the assessments are used to support the operation of the Association and its common elements, such as: staffing (Mr. Fred Torres, Owner and all around wonderful neighbor is responsible for keeping the community free of litter, watering the Association bushes, trees, flowers & shrubs, replacing light bulbs as necessary, surveying the community and reporting the need for major repairs, etc. etc. etc.); water bills (OHTTA pays for water for each unit + each building + swimming pool + laundry room); emergency phone (pool side, required by law); gas bills & gas line inspections; electric bills (security lighting & laundry room); trash pickup (four dumpsters); landscaping contractor (mowing, raking, leaf blowing and hedge trimming); pool maintenance contractor; filing fees & administrative costs (assessment payment reminders, copies, postage, fees to maintain current mailing info on documents filed w/texas Secretary of State & Bexar County clerks office, etc.); professional financial audit & corporate income tax preparation (our Association is non profit, but not exempt from paying federal income taxes); property taxes (OHTTA owns the streets and common areas); Master Insurance policy premiums; and, management support contract fees, etc. Funds not spent in the current year are carried over to the next year to offset increases in the assessment amount. 2

3 If you have any questions about your assessment account status, contact Vickie Field, of Kyse Mgmt at **Mail ALL assessment payments to OHTTA c/o Kyse & Assoc Mgmt Co., 8930 Wurzbach Rd #270, San Antonio, TX The OBLIGATION to UPHOLD COMMUNITY STANDARDS - Did you know that the courts can award the Association up to $200 per day for every day a covenant violation has not been corrected, beginning from the first notice of the violation? (See the OHTTA DCCRs for details - refer to the attached Community Standards for additional guidelines!) Association obligations are normally enforced through the legal system by the Board of Directors, but it s not the Board s intention to expend Association funds to pay attorneys to sue Members, with the potential of raising assessments to cover this expense. It s much better to work with the Owners to assure that they maintain the quality of life in our community without resorting to expensive lawsuits and other legal expenses. Personal Homeowners Insurance In light of severe losses due to natural disasters throughout Texas and the world, we strongly encourage ALL OWNERS (resident, investor, or absentee) to purchase personal homeowners insurance. (Although the Associations Master Insurance policy has been amended to provide coverage for interior fixtures, you should provide adequate limits to personally protect yourself in the event of a loss.) Property Coverage Each Owner should take measures to cover the portion of real property within your townhome not covered by the Master Insurance policy. You should consider a minimum of $25 to $35 per square foot for those items individually owned by you. This amount is in addition to any values you have for your personal effects (furniture, clothes, jewelry, audio/video components, etc.) Loss Assessment Coverage This inexpensive coverage is too often overlooked by townhome Owners. Each Owner should carry a minimum of $10,000 coverage for this under their Personal Homeowners policy. This coverage pays for special assessments or uncovered or large deductible losses under the Master Insurance policy. Personal Liability Every Owner should carry a minimum of $100,000 for personal liability. Each Owner (resident, investor, absentee) should review in detail with their insurance agent their insurance needs in light of their obligations under the OHTTA 3

4 covenants and in particular each Owner s personal exposure to loss. We want all Owners to be diligent in protecting their personal assets. NOTE: In the event of a major fire loss or other destruction of property, the Master Policy only replaces the building. It does not provide any cash or living expenses to you personally. (Bottom line, you ll have to pay for alternate living arrangements on top of paying the mortgage and assessments on your uninhabitable townhome!) LIGHT UP THOSE TOWNHOME NUMBERS The Fire, EMS and Police Departments have driven through our community during the evening and noted that some unit numbers are hard to read because they do not contrast with the surrounding wall. For your safety, please be certain that your townhome number is illuminated at night. THANK YOU! ~ COMMUNITY SERVICE POSITIONS AVAILABLE ~ Why Have Committees? A committee is a group of people selected to study or research a matter and report to the Board with their recommendations. Committees are a means for getting members involved and a training ground for future leaders. A committee provides for composite thinking and is a forum for sifting, studying and evaluating plans and ideas. It is also a way to spread the work of the association beyond the narrow limits of the Board's size. The effective committee doesn't just happen; it is a combination of the right individuals, clear mission, good leadership, staff help, coordination and follow through. The citizens of a community have a right to be heard but they also have a responsibility to act in a reasonable manner to see that their ideas are presented. Decisions on the quality of life in a community cannot be delegated to a small group of people on the Board or to a management company. That is why committees are so important to the well being of a community of any size. Some potential committees are: Architectural Control Committee: (aka ACC ), created in the Declaration, reviews all improvements to the exterior of the property. Covenants Committee: This is one of the most important committees because it ensures that the restrictions are enforced. Keeping up community standards keeps values up. The committee members review the subdivision regularly and note cases where there seems to 4

5 be a rules violation. Courtesy reminders and notification letters are prepared by the community manager as directed by the Committee Chair. The Committee also proposes policy changes to the Board and conducts investigations and hearings relative to alleged violations. Finance Committee: They assist the Board in preparing and monitoring income and expenses and help prepare the Annual Budget. The committee evaluates and coordinates budget requests from the other committees and communicates with members on proposed budget items. The committee will also do long-term financial planning for replacements and improvements. Management provides budget projections based on previous expenditures and gives administrative support to the committee. This is a good place to serve if you want to understand where your annual assessment is going. Communications Committee: Compile interesting items & articles related to OHTTA and create a community newsletter. Welcome/Social Committee: Greet new Owners, provide information re: community standards & contact info for management contractor, Board of Directors; organize community gatherings and events, etc. etc. etc. As always, the Board appreciates your cooperation & support and we count on you to do your part in keeping Oak Hills Terrace Townhomes A FIRST CLASS COMMUNITY. Board of Directors Tim Belk, President (06/08) Mark Budlong, V. President (06/07) Shelly McGee, Secy/Treas (06/09) Your input is important, so why not visit OHTTA on the internet at and Talk About It (*located at the very top of the webpage) Keep this & all OHTTA communications handy for future reference Absentee Owners are responsible for providing this information to their tenants! 5