A homeowners association is a corporation formed by a real estate developer for the purpose of marketing, managing, and selling of homes and lots in a residential subdivision.. In almost all states in the USA, they are are non-profit corporations, with their members being shareholders. Like most associations, they need elections… this is where ElectionBuddy comes in ; ). Whether that be electing new officers, or passing motions that are outlined in the by-laws, ElectionBuddy could be the perfect solution for Homeowner Associations.
Homeowners Associations are becoming increasingly more popular in the USA. In fact, common-interest developments (CIDs) are the fastest growing form in of housing in the USA (source), so the need of governing bodies are needed now more than ever.
As per by-laws, elections are usually held annually, where budget, positions, projects and changes to rules are call considered for review. Many states require a specific time of notifying homeowners beforehand, so they have time to familiarize them selves with all of the candidates and issues.
Similarly to Condominium Board elections, votes may be weighted in terms of the size of property or the percentage of the whole that an individual owns. Like many corporations, members may assign their right to vote, or “proxy,” to another member who will be present at the election. A quorum,often 51 percent or two-thirds of the total membership is necessary to conduct an election.
What’s the election process for your Homeowners Association? Feel free to share your experience with us on email@example.com.