WHAT ARE THE HOURS OF THE MANAGEMENT OFFICE? The management office is open from 8:15 AM to 4:15 PM (M-F). In the event that the manager is not in, the schedule posted on the door will provide you with his location and "estimated" time of return. WHEN ARE THE BOARD MEETINGS SCHEDULED? Board meetings are held on the 2nd Tue. of each month at 6:00 PM. All meeting are "hybrid" and will broadcast from the Community Room. The July & Dec. meetings may by postponed due to schedule conflicts.
WHEN DOES TRASH GET PICKED-UP? You can lease your trash outside your front door on Monday, Wednesday, & Friday mornings and the custodial crew will dispose of it for you. In addition, the outside dumpster is picked-up on Mon., Wed., & Fri. during the summer and Tue. & Thu. during the fall/winter season.
CAN I RENT MY UNIT OUT? Yes, you rent your unit, but lease agreement must be more than one year. The CC&R's prohibit short term rentals. The "Rental Cap" is currently set at (8) units and the Board needs to pre-approve all rentals.
WHO DO I CALL IF I HAVE ISSUES WITH MY CABLE BOX? You will need to call the Cox Communication Service Department to schedule a technician.
WHEN ARE CONTRACTORS ALLOWED IN THE BUILDING? Contractors are only allowed in the building from 9:00 AM to 5:00 PM (M-F). There is no work allowed in the units on the weekends. Also, contractors are not allowed in the building from Memorial Day to Labor Day.
WHAT HOURS IS THE POOL OPENNED? The outdoor pool will remain open from Memorial Day weekend to Septemeber 30th. The hours are from 8:00 AM to 10:00 PM (Mon. - Sun.).
WHERE CAN I STORE MY BICYCLE? There is a bicycle storage room located in the garage and the spaces are on a first come first serve basis. It is recommended that you lock your bike at all times.
WHEN IS THE ANNUAL MEETING? The Annual Owner's Meeting is held in August. Typically, it will start at 10:00 AM on Saturday morning.
WHAT IS INCLUDED IN THE NEW OWNER PACKET? The new owner mailing will include the following forms: > Welcome Letter > Owner Information Sheet > Moving Guidelines > Vehicle Registration Form > Bike Registration Form > Watercraft Registration > Decal Placement Picture > Fob Request Form > Resposibility Chart > ARC Application > ACH Erollment Form
WHAT ARE THE CURRENT REGISTRATION FEES? > Non-Refundable (ARC) Renovation Fee - $250.00 > Pet Fee $ 150.00 (Paid every January) > Move In/ Move Out Damage Deposit - $300.00 (Refundable) > Move In/Move Out Non-Refundable Fee - $200.00 (Non-Refundable) > Community Room Rental / Damage Fee - 100.00 (Refundable) > Community Room / Clean-up Fee - $50.00 > Mobile App Fee - $10.00 (Paid every January) > Visitor Pass Replacement Fee - $25.00 > Re-Financing Questionnaire Fee - $125.00
WHAT TO DO WHEN YOU LEAVE TOWN FOR EXTENDED PERIOD OF TIME? Owners are required to let the manager know that they are leaving for and extended period of time. Second, the main water valve and hot water tank should be turned off . Third, owner will need to find a person to check the unit on a weekly basis prevent any problems.
WHAT IS AN ASSOCIATION? It is a non-profit corporation registered with the state and managed by a duly elected Board. Its purpose is to maintain all common areas and to govern the community in accordance with the provisions of the governing legal documents for the Association. The corporation is financially supported by all members of the Association. Membership is both automatic and mandatory.
WHAT IS MEANT BY THE TERM COVENANTS, CONDITIONS & RESTRICTIONS (CC&R)? Also known as the Declaration or Master Deed, this document is used to establish the chain of title and rights of ownership for each piece of real estate; in other words, the document defines what IS the community Association. It sets up the charter of the community Association as a (non-profit /not- for-profit corporation) and typically detail voting rights for members, usage rights of common property and limits on (assessments/dues). The document legally obligates the owner to follow them. Owners are legally obligated to abide by the Governing Documents through the purchase of a unit situated within the Association.
WHAT ARE THE COMPONENTS OF THE GVERNING DOCUMENTS? The governing documents are all governance that regulates the community life. These documents may vary depending on type of Association (condominium, town home, etc.) Types of governing documents include: State law Plats of Survey and Easement Agreements, which may be separate, but are often included in the Declaration Declaration of Covenants, Conditions and Restrictions (CC&R) or Master Deed By-Laws Rules and Regulations
WHAT ARE BY-LAWS OR CODES OF REGULATIONS? The (By-laws/Code of Regulations) contains the formally adopted regulations for the administration, management and operation of the community Association, such as Board elections, member voting, calling and conducting meetings, and duties of the Board members.
WHAT IS A RESOLUTION? Resolutions are more formal than a simple motion and are used whenever the issue is complex, lengthy or formal. Resolutions are most commonly used when the Board must enact rules or formalize policy and it provides a formal record of the Board’s decision. Resolutions affect owners’ rights and obligations and usually address ambiguities and omissions in the Declaration. They also can affect internal operations of the community Association by addressing ambiguities and omissions in the By-laws.
WHAT ARE ARCHITECTURAL GUIDELINES? Association often adopt Architectural Guidelines with procedures for submitting requests to make improvements to the interior appearance or structure of a unit. These guidelines are set up to maintain the aesthetic value and integrity of the community on behalf of all owners. Violations of these guidelines may result in action by the Board and a fine. In addition, if you proceed with an interior improvement or change, without written approval of the (Board/Architectural Committee) you will be required to remove or correct the alteration and/or be fined for the violation.
WHAT IS THE PURPOSE OF THE RULES & REGULATIONS? Most Associations have developed Rules & Regulations as provided for in the governing documents and adopted by the Board. Rules are established to provide direction to the owners, residents and renters for common courtesies (i.e., parking, vehicles, pets, pool use hours, etc.). These rules are set up to maintain the aesthetic value and integrity of the community on behalf of all owners. Violations of these rules may result in action by the Board and a fine.
WHAT IS THE ROLE OF THE BOARD OF DIRECTORS? The Association is a corporation and therefore a governing body is required to oversee its business. The Board is elected by the owners, or as otherwise specified in the By-laws. The limitations and restrictions of the powers of the Board is outlined in the Association governing documents.
WHAT IS THE ROLE OF THE ASSOCIATION MANAGER? A manager is contracted by the Board to provide such services as: collection of assessments, supervision of contractors, obtaining bids for contacted services, providing financial statements and collection reports. The manager also serves as the center for problem solving, communications with owners and the Board, and to serve in an advisory capacity. The manager reports directly to the Board and all decisions are made by a majority vote of the Board.
WHAT CAN BE DONE IF I AM HAVING A PROBLEM WITH A NEIGHBOR? If residents cannot resolve a situation between themselves, then turn to your manager and Board. After contacting them, if the situation is deemed in violation of the rules, regulations, or guidelines, the Board and manager will institute the enforcement of the applicable policy via written communication to the offender. Until the violation is resolved, continued assistance and compliance is required. Your manager may advise that you contact the police for certain issues that are beyond the scope and jurisdiction of the Association.
WHAT IS AN ANNUAL MEETING? The Association’s Governing Documents require an annual meeting of the Members and election be held. This meeting is open to all members (in good standing). You are encouraged to attend this meeting and participate in the election process. This meeting is typically held in August.
IF I WANT TO SERVE ON A COMMITTEE, HOW DO I GET INVOLVED? Committees are an important part of a community and your involvement is encouraged. If you are interested in volunteering, please contact the Manager via phone or e-mail.
WHAT IS THE PURPOSE OF THE ASSESSMENT? An assessment is the obligation of the owner of record, based on the Governing Documents, to maintain the common elements of the Association. The assessment is also known as a maintenance fee to maintain the common element, maintain services and create a lifestyle. The assessment is periodic in nature and driven by the documents. It is a fee based on unit “square footage” and payable in monthly installments.
HOW IS THE AMOUNT OF MY ASSESSMENT DETERMINED? The assessment fees are determined by what common elements and services will be maintained by the Association and incorporated into an annual budget. Maintenance and services contracts are bid and selected by the Board. These include contracts such as (landscape, maintenance, administration, utilities and unanticipated expenditures which may include repairs and replacement. Each individual fee is calculated by a percentage established the Governing Documents.
WHAT HAPPENS IF I DON'T PAY MY ASSESSMENT? The maintenance and management services incurred by the Association are dependent upon timely receipt of the assessments due from each homeowner. Late payments will result in a late charge, as assessments are due on the first (1st) of each month. In addition, the Governing Documents allow the Association to charge late charges and interest and proceed with legal action such as a lien on your property, or foreclosure proceeding for nonpayment of assessments.
HOW DOES THE ASSOCIATION PREPARE AND SAVE FOR FUTURE EXPENSES? Communities use what is called a Reserve Study, typically done by an engineering firm, to plan for future expenses. It is a budget planning tool which the Association uses to determine the amount to put into savings to properly prepare for the maintenance and repair of the physical components of the property such as roofs, siding, asphalt, etc. due to ongoing deterioration and inevitable future repairs. A Reserve Study is required by law to be performed every five years.
WHAT ROLE DOES THE ASSOCIATION MANAGER PLAY? Advise and provide managerial, and operational counsel to the Association governing body Exhibit professionalism and loyalty to the principal Board Exercise diligence in performing duties on the principal’s behalf Account for financial activities covered by the management agreement Perform on-site property inspections Solicit and evaluate bids for Association services Supervise maintenance activities and contractor performance Oversee and authorize payment for primary Association services Know and enforce the Declaration, By-laws and Rules & Regulations Working in balance with owners and the Board to solve problem
WHAT OFFICER POSITION ARE INCLUDED ON THE BOARD? PRESIDENT: Chief Executive Officer and leader of the Association Presides at all meeting of the Board and membership Executes legal documents on behalf of the Association Sets meeting agendas and controls all meetings Represents the Board before the residents May have nominating, if not appointment, responsibility for all committees VICE PRESIDENT: Performs all of the duties of the president in his/her absence Shares some of the duties of the president regarding appearances, liaison, public hearings, etc. Usually assigned liaison responsibility to specific staff or contractors, and to specific committees SECRETARY: Prepares and distributes membership meeting agendas, meeting minutes, and materials referred to in minutes Maintains minutes and book on all meetings Maintains book of resolutions Maintains all official records, including official correspondence, contracts, owner roster, etc. Receives, verifies, and maintains all proxies Attests, by signature, to the legitimacy of certain documents TREASURER: Works with appropriate staff, contractors, and committees to develop and submit annual operating budget for approval Maintains adequate records of all Association financial transactions Maintains roster of disbursement of funds, as authorized Arranges, subject to Board approval, an independent fiscal year audit of financial affairs
WHAT IS A RESALE DISCLOSURE PACKAGE? Per Virginia State Law, a “Resale Disclosure Package” must be ordered anytime a Unit is being sold. This process ensures that all the documents pertaining the Association are disclosed to the Buyer BEFORE the sale so they can make an informed decision. Please Contact your manager (Brian Devost) to order your resale package by e-mailing him at email@example.com. Full Disclosure Packages for a RESALE are paid for at closing. All other services provided by the Association IE. Mortgage Questionnaires, Moving-In/Out Fees, or registration fees are paid for at the time of request.
Ocean Way Condominium Owner's Association 500 Winston Salem Ave. Virginia Beach, VA 23451 757.428.5058