common interest developments: what are they and who should manage them?
DESCRIPTION
Common interest developments are becoming a sociological phenomenon, but the people entrusted to manage them are unpaid, volunteers who represent the best interests of their subdivision by a majority vote. They are often untrained and lack the resources to do so which places them in positions to lose objectivity and in uncomfortable situations with their neighbors.TRANSCRIPT
“Helping neighborhoods thrive”
MGM ASSOCIATION MANAGEMENT
04/13/2023 www.goMGM.com
What are CIDs?
A common interest development is real
property that combines individual ownership (separate interests)
with property held and managed in common
among all of the owners.
(a.k.a. subdivisions, developments, townhouses, &
condominiums)
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Common Interest Developments
Origin 1830 - 1901 Emergence 1901 - 1935 Popularization 1935 - 1960 Expansion 1935 - 1973 Restructuring 1973 - 1990 Revitalization 1990 - 2014
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Common Interest Developments Boise, Idaho
CID growth rate from 1990 to 2000 - 46.14%
Number of CIDs - 2,047 (2014) New construction rate - 17% over 2012 Second Best City in the US to raise a
family (Forbes Magazine)
One of the top 5 Cities to live in (Better Homes & Gardens)
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Homeowner’s Association Board Challenges
Governing Covenants, Conditions & Restrictions (CC&Rs) and amending bylaws
Issuing Violations & Enforcing CC&Rs Collecting dues Loss of objectivity Places Board Member in uncomfortable
situations
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HOA Governance
Requires a nomination and appointment by a majority
Volunteer, uncompensated position Untrained in conflict negotiation Lack resources and expertise Loss of objectivity Uncomfortable situations Diversion away from relevant issues
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Our Mission
“MGM Association Management is committed
to giving homeowner associations, homeowners and their board members
the peace of mind that their association is taken
care of by trusted professionals.”
6/15/2014
04/13/2023 www.goMGM.com
MGM Association Management
16 years of direct HOA experience
99% Collection Rate for HOA Dues and Violation fees
Contain Costs Reliable & transparent
accounting processes Customized & scalable
plans Expertise in
homeowner engagement
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Management Services
Budget $1.00 /home Budget Plus $2.50 /home
Premium Service $4.50 /home
04/13/2023 www.goMGM.com
MGM Association Management
For more information:
Scott SetterlundSales Manager
POB 1246Meridian, Idaho 83680
(866) [email protected]
www.goMGM.com
04/13/2023 www.goMGM.com
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