Ontrack Asset Management Los Angeles

HOA Management FAQ's

Los Angeles HOA


A Homeowners’ Association (HOA) is a legal corporation that is organized and incorporated under the individual laws of your state. The Association is bounded by Articles of Incorporation that enable the association to implement certain powers of a corporation. By purchasing a home in the community or where the Homeowners’ Association is involved, you will automatically become a member of the association. The membership will remain so for as long as you own the home. Membership is not an option and is automatic for all owners. You will receive a copy of the association documents at the closing of the home, provided by the title company. As a property owner in Los Angeles and a member of a community association, you are required to pay dues, as well as accept the homeowners’ association rules and restrictions while maintaining the areas of your home that are your responsibility.
Yes. You cannot live in a neighborhood or community where there is an existing HOA without becoming a part of the organization. One reason why Los Angeles developments have Associations implemented is to keep the homes in the community clean and orderly. If the membership, it would make the HOA unnecessary.
When learning about the existing Los Angeles HOA, the first thing needed know is whether it is incorporated. If it is, this means that the Articles of Incorporation are usually the most important document, which in turn take priority over all other documents. These articles include a descriptions of rules, or can also be used to formally establish the existence of the HOA in the Los Angeles specified location. Specifics will be spelled out in either the CC&Rs or the bylaws. This includes election procedures for the board of directors, which lead the HOA organization. The documents will define what the board is able to do as well as what needs to be approved by the residents or any other party involved.
A professional Los Angeles HOA management company, like Ontack Asset, will provide knowledge and experience of the association operations, any governing statutes, precise financial reports and accounting, proficiency in condominium and homeowner association management, as well as providing enhanced negotiating influence with vendors, contactors and insurance companies.
If retained, Ontrack Asset will be considered partner of the specific Los Angeles HOA.
Ontrack Asset offers an assortment of services like simple account administration and one-time consulting as well as full service homeowners’ association management. For this reason our fees are based on what each individual homeowners’ association wants in regards to hiring our services. Each association is unique in how it is organized so our fees will vary for this reason. Please contact us or fill out an online HOA Management quote request form for more information.
If you decide to hire us, our staff will schedule a conference to meet with the current manager or current management company’s office in order to evaluate and record all accounts. Owner names and balances will be inputted into our database which will automatically draft notification letters and statements to be sent to all owners in the HOA. This process can take up to one month depending on the size of the association.
We will personally handle notifying each vendor in writing to fully explain how our involvement will affect each one as well as change of address and contact information for all matters.
No. Everything within the HOA will remain the same. All professionals, including the association’s attorney(s) as well as any landscaping company can remain active in providing their services. The board also remains controlling activities of the management company. Ontrack Asset will function to complete board directives, deliver qualified recommendations, implement recognized operating systems and procedures, and launch levels of operations and bookkeeping for the association.
We understand that running a Homeonwers’ association in Los Angeles can be tricky. This is why we offer our Los Angeles HOA management services so that you can have more time to dedicate yourself to other objective rather than spend it tending to the intricate details of HOA management. We’re experts, so please let us help!
Please visit our request a quote page and fill out our online HOA and property management service quote request form. This allows us to better understand your needs as a Homeowners Association. You can also contact us directly to our Los Angeles office via our contact information.