Governing Documents
The place in the Governing Documents where Quorum will be listed.
What is the Bylaws.
The difference between the Actual Spend and Budget Spend.
Named for an Army Officer this manual of parliamentary procedure is requested to be used during meetings and gatherings of the Association.
What is Robert's Rules of Order.
This request usually lays out the parameters for the project within the Association.
What is an RFP
This is the industry standard for response times
What is 24-48 hours
Commonly known as the Dos and Don'ts of the Association
What are Use Restrictions
What is 30 days.
This describes the meeting of the membership where Quorum has not been met, but valuable information is relayed.
What is a Townhall
This document outlines the responsibility of the vendor. Also lays outlines Termination terms.
What is a vendor contract?
These are usually added to accounts for ongoing violations.
What are fines.
Where you can find the Board Member responsibilities
The Bylaws
Term used to identify funds received from owners
What are Owner Assessments
Session related to only the Board Members
What is executive Session?
Other than the management agreement, what is the next most important vendor agreement that protects your association
What is a legal retainer.
Process is which invoices with issues are highlighted for further research to have them removed or "Cleared"
What is AP Clearing
The process of clarifying outdated language or clarifying terms in the Governing Docs. Usually Legal counsel is required
What is a resolution.
Three items to never budget for based on variables.
Lates Fees.
Interest.
Violation fines.
Problem solving term usually laid out to hear a grievance by a homeowner where the board will make a decision ( example of this would be to dispute a fine)
This trade organization is an integral part of the business relationships managers leverage for their associations.
What is CAI.
What is a violation run or Inspection
What is the standard term all Governing Documents are valid?
What is 20 years.
What is the FDIC limit for all Association bank accounts by the end of the fiscal year?
$250,000
If a Board member is asked to resign from the board, What is the most favorable option for their replacement?
What is appointment.
This lien is usually levied against an association should the association fail to pay invoices 90 days after the completion of work on a property
What is a mechanic's lien
These are the 7 qualities of an effective Community Association Manager
What are:
Leadership.
Professionalism
Communication
Community Governance
Business Partner Relations
Conflict Management
Time management