In any HOA community, property document management is essential. Preserving records will protect both the Association and its members in the event of possible litigation—yet many HOAs struggle with how to protect their documents, and with whether electronic or hard copies are more practical. In a new statement to the press, Charlotte-based Kuester Management Group offers some insights into HOA document management.
“The first thing we would say is that Board members have fiduciary responsibilities, and that includes keeping up with documentation—but the management company you enlist has the same fiduciary responsibilities,” says Bryan Kuester, President of Kuester Management Group. “Hiring a trustworthy management company with tried-and-true document management policies is crucial. If the management company fails to keep up with key documents, they’re liable for it.”
Kuester also recommends that, before enlisting a management company, HOAs ask to have written copies of the management company’s document protection practices. “Also revise all vendor contracts to specify proper record-keeping practices,” Bryan Kuester offers.
Some associations may wish to go “paperless” with their documentation, but Kuester gives a word of caution here. “You’ll always want to have a paper filing system as your backup,” he says. Kuester points to a recent Los Angeles Times article, which makes a similar point. “The sheer volume of paperwork generated in homeowner associations can be intimidating, which makes operating without a reliable paper filing system not only frustrating but costly,” the article states. It goes on to list some best practices for maintaining hard copies of key documents.
Bryan Kuester concludes by affirming the importance of proper record-keeping. “Your HOA accrues a lot of knowledge over time, and that knowledge is maintained through the documentation process,” he says. “If lost, that knowledge can’t always be recreated, which is what makes document management so critically important. Make sure your management company takes this responsibility seriously.”
Kuester Management Group offers a range of services to associations in North and South Carolina, including record-keeping and document management. For more information about the services and support provided by Kuester Management Group, visit the company’s website, www.kuester.com.
ABOUT:
Kuester Management Group, a division of Kuester Companies, works to protect property values and enhance the quality of life in each of its managed communities. Providing a full range of association management services, Kuester Management Group has worked to foster strong, resilient, and unified communities across North and South Carolina. The company is proud to offer on-site property managers, all zealous for building strong communities meant to stand the test of time. Other key services include document keeping, financial oversight, and other critical back-end functions.
More information is available at www.kuester.com or @KuesterCompany.
Media Contact
Company Name: Kuester Management Group
Contact Person: Bryan Kuester
Email: bryan@kuester.com
Phone: 704-973-9019
Country: United States
Website: www.kuester.com