Board Meetings
| September | 16th | 5:30 P.M. | Monday | Board Meeting |
| October | 21st | 5:30 P.M. | Monday | Board Meeting |
| November | 18th | 5:30 P.M. | Monday | Board Meeting |
Our BWF HOA are opened to BWF Residents.
What is a HomeOwners Association?
A homeowner association is typically a non-profit corporation controlled by an elected board of directors that has a set of governing documents “Covenants and By-Laws” that are recorded with the county and are legally binding. The “restrictive covenants” are intended to define the standards of the community so as to protect property values. These restrictions vary widely among associations and can control everything from parking to fences, sheds, architectural improvements; even exterior paint, roof material and color, and even basketball goals.
How do Homeowners Benefit?
Communities benefit from shared amenities such as pools, tennis courts and clubhouses. The cost of operating and maintaining the community amenities as well as mowing community spaces, electricity for street lights, water for irrigation and pools, paving/parking, signage and security to list a few of the monetary responsibilities. The cost of maintaining and operating the community amenities are paid by the members in the form of “annual assessments”. These assessments are mandatory and failure to pay typically leads to fines, restriction from amenities, property liens, and can ultimately include foreclosure.
Board of Directors’ Responsibilities
The Board of Directors have a fiduciary responsibility to act in the best interest of the community. This includes attending board meetings, keeping records, making or amending rules, collecting assessments, paying bills, providing financial reports, holding an annual member meeting, and generally operating the association like a business. Often, associations will hire a “management company” to perform the day to day duties. However, only the board of directors have the authority to govern the community; not the management company.
More information on General Information – Property Owners’ Associations or HOA
Author
bwffhoa@gmail.com