Description: Integrity Based Management, LLC.
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In the case of new developments, the builder(s) will have one (1) or more of the contractor’s management personnel or themselves serve on the BoD until phases or the entire project is completed. This process may vary dependent on the governing documents. Once the project is completed, the HOA is turned over to the Association completely and the Board of Directors is elected by the owners of each unit annually thereafter.
This is where HOA management companies come in. Elected Board Members seldom have the knowledge, skills, available time and expertise needed to care for the day-to-day demands required to operate an HOA, which in fact is a small business; some are not so small, there are HOAs with several thousand residences. A major factor in an HOA’s decision to hire a management company is that Board Members are fiduciaries and are subject to myriad local, state and federal laws; primarily Nevada Revised Statutes (NRS) 1