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to help guide new board members in their duties. Most attorneys can host training for new board members on their duties and responsibilities, and in addition, CAI hosts a helpful course called the CAI Board Leader Certificate Course, which can be a great tool regardless of whether this

is someone’s first or fifth time being a new board member. Once the transition process has begun after the new homeowner majority control board is elected, it is time to meet as a team with, at a min imum, your board, manager, attorney, and engineer to start the process. The board’s professional team will guide them in reviewing the existing commu nity, creating a transition study, and negotiating with the developer/spon sor/declarant to either repair items in need or compensate the board so they can do so. “...it is not uncommon to take a year or longer following the official handover of the community to the new homeowner-controlled board.” This process can take time and it is not uncommon to take a year or lon ger following the official handover of the community to the new homeown er-controlled board depending on the complexity of the property. It is com mon that any settlement or agreement will include a provision that the asso ciation may not file any subsequent claims against the developer/spon sor/declarant regarding any defects or issues not mention in the initial suit, so it is important to ensure everything is included and well-reviewed. During the transition negotiation pro cess a board may commonly appoint a transition committee made up of residents with a background in law, engineering, accounting, and other relevant disciplines to help them work

Managers during this process should take copious notes, save doc uments they are given, pay close attention to dates and deadlines, and should make use of CAI resources

of industry-defining community management

Accounting Accurate accrual-based financial reporting Management Time tested maintenance solutions Communication Keeping boards, owners and residents informed Technology Leading-edge software platforms and financial tools

To learn more, visit IntegraMgtCorp.com or call Edward San George, MPA, PCAM at ( 973) 770-1500 .

200 Valley Road, Suite 203 Mt. Arlington, NJ 07856

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