New Development (Under Builder Control)
Developers embarking on the creation of a new association encounter distinct challenges compared to established ones. This includes a range of essential services provided by management, such as:
- Assisting in the establishment of covenants
- Setting up initial accounts
- Collecting initial assessments
- Establishing the initial budget
- And other pertinent tasks
While these may appear straightforward, navigating them effectively demands a company with a wealth of expertise. Viking Management Services not only brings extensive experience from the association management sphere but being owned by a full-service real estate firm, also offers insights into the implications of decisions on property marketability, appraisal outcomes for new units, value maintenance, and more.
Builder Turnover
The transition of an association from builder control to homeowner governance, including the warranty period, is a pivotal phase. Effective management during this period necessitates robust communication between the builder and homeowners to ensure the fulfillment of builder obligations and homeowners' comprehension of the turnover process. Viking will work with your community regarding:
- Electing the inaugural board
- Establishing a meeting schedule
- Reassessing and adjusting the budget until development completion
- Transitioning accounts
- Establishing reserves
- And other pertinent considerations.
