Frequently Asked Questions
What is a Condominium Association?
Condominium Associations are non-profit corporations typically required by the municipality and created by the community developer/builder. Veranda at Ventana Condominium Association was created by the developer during the conversion from apartments to condominiums. The Association itself is governed by a voluntary Board of Directors elected by the homeowners in the community. Many of the activities and responsibilities used to manage the community are regulated by statute. Homeowners that choose to move into an Association enter into a private contract with their Association and agree to abide by the governing documents of their community. For Veranda at Ventana these documents are available in the Documents tab within this website.
What is the role of an Association?
The volunteer Board of an Association has a fiduciary duty to the homeowners in the community to ensure that the governing documents of the community are adhered to by the homeowners. Many of those voluntary Boards hire professional community management companies to assist them.
What is a Community Management Company?
Community management companies are hired by an Association to provide professional management services for the community. As a part of the Associations budget process, most Boards seek bids for professional management of their community. On behalf of the homeowners in the Association, the elected Board of Directors selects the community management company that they feel will best carry out the duties of the Board at an agreed upon price.