Integrity Based Management
Common Interest Communities (CIC) also known as Home Owner Associations (HOAs) are the cornerstone for community governance in many older neighborhoods in the Las Vegas valley and nearly all newer developments. These HOAs are comprised of the residents of the particular community who elect a Board of Directors (BoD) to manage the collective needs of that community. These Board Members are volunteers and serve one (1) or two (2) year terms, even up to three (3) if the governing documents allow. The number of Members of a BoD varies, as few as three (3) and as many as nine (9) or more.
In the case of new developments, the builder(s) will have one (1) or more of the contractor’s management personnel or themselves serve on the BoD until phases or the entire project is completed. This process may vary dependent on the governing documents. Once the project is completed, the HOA is turned over to the Association completely and the Board of Directors is elected by the owners of each unit annually thereafter.
This is where HOA management companies come in. Elected Board Members seldom have the knowledge, skills, available time and expertise needed to care for the day-to-day demands required to operate an HOA, which in fact is a small business; some are not so small, there are HOAs with several thousand residences. A major factor in an HOA’s decision to hire a management company is that Board Members are fiduciaries and are subject to myriad local, state and federal laws; primarily Nevada Revised Statutes (NRS) 116 and its sub-chapters. The time commitment is also a large factor; few individuals want to make a career of a volunteer position.
Our community management company provides an HOA with all the necessities to run the business, including, but not limited to:
- Preparing the annual budget for approval by the BoD.
- Preparing and mailing the ballots for the annual election and chairing their Meeting.
- Interfacing, when required, with the HOA’s professionals (such as an attorney or CPA).
- Writing and mailing “request for proposals” (RFP) for repair work to at least three (3) vendors.
- Scheduling Meetings of the BoD and its Executive Committee (EC).
- Conducting the above Meetings and advising the Board of proper procedure during those Meetings.
- Writing and following up on any resident’s violations of the HOA’s Covenants, Conditions and Restrictions (CC&Rs) and/or its Rules and Regulations (R&Rs).
- Assist and counsel the BoD at any Meeting called by the Nevada Real Estate Division’s (NRED) Ombudsman Office.
- Handle all banking; including check writing, A/R and A/P.
- Advise the BoD on any upgrades or maintenance needed in the community.
- Handling all details regarding collection of unpaid debts for their clients.
- Handling emergency situations such as water and roof leaks. Supply 24/7/365 emergency service via a cell phone answered by a senior staff person.
Ishana Vargas is the owner of Integrity Based Management, LLC, with an extensive background in this field. She is a Nevada State Certified Supervisory Community Association Manager (SUPER CAM). After working more than six (6) years for others, she decided to start her own company. She put together a great group of individuals that have committed to working for her. These individuals fill out the staffing needs it will take to make this business a success. Each individual has extensive experience in his/her specific field.
I am confident that you will be pleased with my company’s services and understand the difficulties during transitions or just beginning with a new management company. Our staff will work hard to make your transition as smooth as possible. We look forward to working with you and your community. For any questions or concerns you may have, please don’t hesitate to call Integrity Based Management, LLC and speak to me or a member of my staff.