Question:
What is a self managed HOA?
Is an HOA required to have insurance?
How do you start an official HOA?
Our neighborhood currently does not have any sort of official HOA. We have some volunteers that collect volunteer dues of a minimal amount of about $50 per year per household for maintenance of some common areas and for a couple of neighborhood celebrations. Its completely voluntary.
If they wanted to create an official HOA do you have a guide and do they need an attorney, official forms, insurance, etc.
Thank you
– Renee
Answer:
A self-managed HOA is an HOA that is not managed professionally by a management company or a manager. It is only managed by the HOA board which is made up of homeowners.
Condominiums in Georgia are required to carry insurance, as per the Georgia Condominium Act. Many HOAs are also required to carry insurance according to their governing documents. Even if it is not required, it is still smart for an HOA to have sufficient insurance coverage for unexpected situations and potential liability.
To create a condominium association, refer to Section 44-3-72 of the Condominium Act. To create a property owners association, refer to Section 44-3-222 of the Property Owners’ Association Act. Other sections will also prove helpful in your endeavor.
Make sure to hire a lawyer if you wish to start an HOA. A lawyer can help you draft your governing documents and file necessary forms with the government. It’s a good idea to seek professional help from an HOA management company to get everything in order.
Find HOA management companies in Georgia here: https://www.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
