Management Minutes, 06-30-26

Management Meeting, June 30, 2026
In attendance: Michael, Cheryl, Ben, Kerry, Sarah

Rental agreements and Letter to Unit Owners Renting Their Unit

-    Ben has been coordinating with Laura (unit 1) and sent some language for her rental agreement and has created a document to share with future unit owners thinking of renting 
-    “Landlord insurance” is required by CC&Rs, and rental owners will need to provide it; some confusion among management members whether HO6 policy is what this means—after some research, landlords will need a “modified” HO6 policy, and according to the CC&Rs also need $50k in insurance
-    Modified HO6 is called a “tenant occupied condo policy,” which is language that will be added to the Letter to Residents Renting Their Unit 
-    Renter seems to be paying HO6 policy, according to Laura’s rental agreement, but this is not confirmed 
-    Landlord liability protection will be needed as part of HO6
-    HO4 renter’s policies will need to reflect the condo ownership model 
-    Deductible on the master policy is $25k, so tenant occupied condo policy needs to cover this amount 
-    Ben would like to clarify that our contract is with the unit owner, and we have no contract with the renter
-    Association is empowered to do required repairs in the absence of unit owners, and to bill them for them
-    Management members reviewed Ben’s proposed letter to unit owners and provided handwritten and verbal feedback that will be incorporated
-    Ticket will be created on Discord to prompt review by unit owners who plan to rent units 1 and 6 

Agreement about mortgage inquiries/docs

-    Recent inquiry about refinancing a unit prompted a form and questionnaire that management members need to have common understanding of how to answer
-    Questionnaire has become much more onerous in recent years, and consistency and correctness will be necessary
-    Cheryl feels that the requirement for structural inspection is the most difficult aspect of these new questionnaires, and perhaps we should ask HOA Ombudsman about this
-    Ben doesn’t think we need to be proactively seeking out issues without any obvious evidence
-    Deferred maintenance is also a substantial issue, and there is a gradient of things that fall within it
-    Ben notes that questionnaire asks if a plan is in place to address deferred maintenance, and what the schedule is to address it
-    Kerry doesn’t think a full list of all known deferred maintenance issues is really what they want
-    Ben feels that the outcome of the recent refinance questionnaire will be very informative 
-    Fannie Mae may have a contact who could address uncertainty about what is needed in the questionnaire
-    Kerry feels that the financial statements and meeting minutes will go a long way, but Cheryl isn’t confident that this will be enough to satisfy requirements 
-    Ben and Kerry agree with Cheryl that writing to HOA Ombudsman is a good idea to make sure we are “doing enough” 
-    Kerry asks how we get to a place where we’re all on the same page; Ben answers that the current questionnaire can serve as a reference and is on Discord 
-    Cheryl feels we should be ready for potential requirement of two years of financial records and year-to-date (according to Fannie Mae requirements that may be in effect as of August)
-    Kerry would like us to pursue hiring a reliable attorney for discussion of these issues, as well as CC&R revisions; Ben expects that four months will be the limit for attorneys to work with us on CC&Rs

Bookkeeping update/statements review

-    Cheryl feels that recent statements show we have been assigning too much granularity in assigning accounts and codes 
-    Ben suggests that management work on this together at next meeting (7/21)

Maintenance update

-    Tim from Top Dog Construction is coming on 7/1 to review walkway leveling bid; additional bids will be procured to fulfill the large spend process 
-    A team will begin working on linseed oiling on 7/1 
-    Bids for additional buildings for stucco are currently being acquired
-    Trees—bids for arborist work are being procured, Cheryl wonders whether this cost could come out of reserves
-    Ben answers that if trees come back in excess of allotted funds, community could vote to spend some of the reserve monies on this expense
-    Some reserve and operating expenses allotted for this year have come in under budget, which gives us some flexibility, including stucco and insurance (though an additional coverage “Fidelity coverage” is currently being clarified with State Farm)
-    Inventory of landscape tools and potential purchases of tools will be a next step

Pay or Play update

-    Proposal has been drafted to Clarify Definition of “Community Work” in the Pay-or-Play Agreement to alleviate the contradiction between saying folks aren’t doing the right things, and also that they get to decide what counts
-    Management members reviewed this draft and provided written and verbal feedback that will be incorporated