February - What are we working on?

Did you know...?

• Did you know that the Board assumes responsibility of any Architectural Review Board (ARB) requests immediately after election? In our case, it meant reviewing, evaluating, and making decisions on quite a few outstanding requests. Each request is evaluated to ensure it aligns with community aesthetics and anything "new" becomes a precedent for the community. Great time and care go into each request since one of the goals of a HOA is to create standards that benefit us all. We have completed dozens of these reviews in the last couple months. We look forward to a new ARB committee being formed in the very near future and taking the lead in caring for this specific task.

• Did you know that every maintenance issue within the community gets reviewed, a vendor selected and financial approval given to move forward with a solution? A street sign falls, storm or wind damage done to exterior of homes and etc requires swift action to review ticket, find a competent and affordable vendor and ensure the quality of work is completed in a timely fashion! We have been meeting regularly to review and make decisions on items like these since we took office.

• Did you know that every HOA should have a lawyer on hand that specializes in HOA community law? The Board has evaluated firms in the area, interviewed them with our specific needs in mind, and have signed agreements to work with Triangle Trace. As you can imagine, the Board is trying very hard to use them only when absolutely necessary since the fees associated with the use of a lawyer can add up quickly. We are working on a number of items that require legal assistance.

  • One of the primary usages of a lawyer is to ensure that owners do not fall behind on HOA dues. It is never our desire for someone to pay additional lawyer fees to settle their accounts, however our hands are tied after numerous efforts to collect have failed. The community relies on sticking to a tight budget with monthly income only coming from dues to care for community matters.

  • One of the other usages of a lawyer is to ensure that our bylaws and CCR's are in line with the communities desires. The bylaws and CCR's were written and filed legally by the developer to get a community started, but those documents will need be tailored to better meet our needs (ie. parking, rental caps..etc). When adjustments are made, a lawyer will review and propose a document or wording to be used. That adjustment will need to be voted on by the community, notarized and added to our legal documents.

• Did you know that budgets take months to finalize in preparation for a community meeting? A new community such as ours had a budget created by a developer to address various items as they are building in the community. They have established relationships with vendors of their own and sign agreements with them for the development periods. They don't often take into account specific items that arise after owners take over a community board. The Board has been working diligently to ensure we have the right vendors who will provide quality work in the areas that mean the most to our community. All of this takes place while monitoring cost sharing expenses with Rivercross. Lastly, based on the requirements of the HOA to care for exterior maintenance of our townhomes, we need to be able to set aside enough reserves that we can address major items in the future. We feel confident that the budget for the 2025 year is solid and allows us to care for the needs of the community the first year.

• Did you know that most if not all HOA communities must carry a fairly hefty insurance policy? Especially within a townhome community that legally has the HOA care for the majority of the exterior of our homes. With the increase in natural disasters and global warming, people around the globe are experiencing unusual and more violent weather. The Board has evaluated the current insurance carrier, put it out to bid, and feel comfortable with the insurance levels we are currently receiving. However, it is no secret that the insurance industry as a whole continues to increase premiums and ours is no different. We will continually work hard to ensure we have the right levels of insurance, the right coverage options, and affordable premiums.

• Did you know that we are in control of our Community Management vendor? As stated above, the developer signed agreements for a management company when they initially broke ground. The original company was called William Douglas, and after about a year they were replaced by CAMS. As the Board took over responsibilities we worked side by side with CAMS to get everything transitioned to the new Board and create a structure that works for our needs. We meet a minimum of once a month to sync with CAMS and follow up on decisions that were made. CAMS currently agrees to work 3 days onsite but available 5 days a week sharing the load between Rivercross and Triangle Trace.

• Did you know that a successful HOA community will have a Reserve Study completed with a 5-10-15 year roadmap of planned expenses? We have allocated funding to have a Reserve Study completed for Triangle Trace this year, which will be imperative to long term fiscal responsibilities. We are looking to have a vendor selected and study completed this summer so that we have data to base next years budget on.

Rest assured that your Board is working hard behind the scenes for the benefit of our community !