What is a community association? A community association is a non-governmental group organized for a joint purpose, typically, cooperatives, neighborhoods, or groups of owners in proximity, organized to ensure real estate owned by the group is maintained. Community associations are legal entities and have a board of directors that is responsible for guiding the association. If you own a property in a community association, you are a member of the community association. (CAM)
Who governs CAM? Real estate boards or commissions of each state typically establish education, licensing, and practices for community association management. In the state of Georgia, the Georgia Real Estate Commission administers the license law that regulates brokers, salespersons, and community association managers.
Where are community association management services performed? CAM is nationwide and prominent in community associations (often referred to as subdivisions) especially after 1990s. If you see a new neighborhood going up, there is a 99% CAM is involved.
What are the most important things to know as a homeowner? Elan Management loves to educate owners on the ABCs of their community.
A= Assessments, How much am I required to pay to be member of the association? In newer communities, assessments pay for amenities, street lights, property taxes for retention ponds, etc. Basically, community expenses that should be shared among owners.
B= Bylaws, Who runs the community? What are my rights as a member of the association?
C= Covenants, The entire set of regulations and rules that were recorded with your property?
Knowing your community ABCs is the first step towards becoming a good home-owner.
Getting involved and staying involved is the follow up!
Elan Management is a licensed and bonded Georgia Real Estate Firm established in 2008 and has proudly served the South Fulton community for ten years.