How does it work?
The Sharyland Residential Community Property Owners Association, Inc. is a non-profit corporation administered by a 3-member Board of Directors. Two directors are now appointed by the Declarant (the Developer), and one director (a Homeowner) is elected by the Communities Voting Delegates, as prescribed in the Bylaws of the Association. The current arrangement will change however, when further "transition" occurs, as more Homeowners are elected to the Board.
It's important that the Declarant have control of the votes in the early stages of an association for several reasons: (1) the Declarant has the most significant investment in the Association; (2) the Declarant provides subsidy to the Association until it becomes self-sustaining on assessment collection alone; and (3) the personnel representing the Declarant provide leadership until homeowners become sufficiently familiar with the governance of the Association to take on leadership roles themselves at the time of transition.
The Board of Directors of Sharyland Residential Community Property Owners Association, Inc. has contracted with a professional management firm, RTI/Community Management Associates (CMA), to provide a number of services to the Association. The advantages of having professional management are twofold. First, the management firm provides professional guidance and assistance in management and financial affairs to the Board of Directors, and second, they provide continuity even though the Board may change. CMA, on behalf of the Board of Directors, prepares the annual budget, facilitates service contracts such as landscape maintenance contracts, evaluates contractors' performance, collects Association assessments, follows up on delinquent assessments, organizes the annual meeting, maintains bank accounts and carries out the business of the Association. The Association Manager is Mel Rossen, and he may be contacted at 956-584-2827.