Posted By: TryingtoComply
Property Managment Companies & HOAs - 04/26/18 09:48 PM
Just learned today that we do business with a property management company (PMC) that manages properties for many HOAs. Also learned that we establish accounts in the name of the HOA (rather than the PMC) with individuals associated with the HOA as authorized signers. We also have accounts established in the name of the PMC with the authorized signers being individuals associated with the PMC only.
I'm not sure what determines how they are set up.
I understand there is an exception for property managers that allows them to let individuals associated with the HOA be authorized signers.
Has anyone done any research on this? Trying to determine who is the customer for purposes of beneficial ownership. I'm thinking it boils down to which entity is on title.
I'm not sure what determines how they are set up.
I understand there is an exception for property managers that allows them to let individuals associated with the HOA be authorized signers.
Has anyone done any research on this? Trying to determine who is the customer for purposes of beneficial ownership. I'm thinking it boils down to which entity is on title.