Posted by: phillipsre | August 5, 2014

Making Access to Paperwork Easier for Condo Associations

iStockPhoto_CondoBuildingA recent article from the Boston Globe reported that State legislators are being urged to toughen a law governing condominium boards so condo owners will have better access to basic financial information. Currently, condo boards are required to provide condo owners with the paperwork and documents that they need, such as financial statements, insurance documents, balance sheets and other HOA documents. Unfortunately, although they are required to provide these documents, there is no recourse if they do not, which is why this bill is coming into place. This is especially important for home owners that are trying to refinance or sell their home. These documents are needed quickly in order to move the transactions along. If the condo board is self managing, without the help of a professional management company, providing these documents to the owners become difficult and timely, a lot of times board members have day jobs, take vacations and may otherwise not be always available. Phillips Real Estate Services provides its HOA clients with electronic documents and will work directly with real estate agents to make sure the documents are provided quickly. It is Phillips’ paramount duty to ensure transparency and provide owners with the information they need to be assured that their community is being adequately and competently managed. Owners can make appointments to come view any association documents with very few limitations. This is just one of the many benefits of working with a management company!

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