4. Homeowners Have a Right to Access Financial Reports, HOA Documents
Board members cannot prohibit homeowners from requesting HOA documents including:
- Financial Reports
- Annual Budget Report
- Reserves Summary
- Vendor Contracts
- Board Meeting Agendas and Minutes
- HOA Membership Lists
- HOA Tax Returns
- Governing Documents
- HOA Rule Changes or Amendments
- Plans for Capital Improvement Projects
Homeowners have a right to inspect these documents to see how the board is managing the community’s finances and assets. Access to budgets, expenditures, transactions will allow homeowners to see how their money is being used.
In some cases, though, homeowners may first need to submit a written notice, as well as pay for copying and postage costs. HOA boards may refuse access to documents that are bound by attorney-client privilege and those with pending litigation.
5. Homeowners Have a Right to Disciplinary Hearings
A homeowner has a right to a hearing before the HOA takes disciplinary action, such as imposing fines or suspension of privileges. The board must send a written notice ahead of the hearing via first class mail. Homeowners also have the right to a fair hearing even if they have clearly violated the association’s rules