Residential Estate Industry Journal 4 - Page 22

PUBLIC POLICIES

POLICIES

& PROCEDURES

SUMMARY OF INDUSTRY POLICIES AND PROCEDURES
A full set of industry policies and procedures was published in the Residential Estate Industry
Journal 2015 .
1 . Access of visitors , contractors , guests and the general public
ARC supports the right of a homeowners ’ association ( HOA ) to control access to the community , whether roads are deemed to be private or public . ARC opposes access controls that are in conflict with the constitutional rights of citizens , and encourages the use of proper signage and other means to advise all visitors of their obligations while in the community .
2 . Security protocols , standard operating procedures and emergency procedures
ARC supports the implementation of the highest possible security standards within budgetary constraints , and supports the principle that homeowners living within communities are responsible for their own home security . ARC opposes any groups challenging the rights of an HOA in regard to how the HOA applies these standards , and encourages all communities and their security service providers to implement standard operating and emergency procedures in the community . ARC opposes the use of unregistered security providers .
3 . Financial controls , budgets and reserves
ARC believes it is imperative for all community associations to adopt and use a financial planning and budgeting process which accurately reflects projected annual operating costs and long-term capital or major expenses ( reserves ) and results in a balanced budget . ARC believes that the developer and the board should prepare and disclose the initial budget to ensure accurate estimation of projected operating costs and reserves .
ARC also supports full and open disclosure to owners and the opportunity for participation by owners in the development of the budget .
Furthermore , ARC opposes laws which would mandate how community associations fund and maintain reserves .
4 . Risk management and insurance
ARC supports the implementation and maintenance of an effective risk management programme by all member communities . ARC believes that an effective risk management programme can best be achieved if associations and their governing boards work with recognised community association professionals .
ARC also believes that a comprehensive association insurance programme must focus on meeting a broad range of legal requirements while recognising that the governing board is the “ trustee ” of the owners in insurance matters . This programme ( collectively known as risk management and insurance ) requires that risks of loss be fully evaluated and that funding for such loss ( whether by commercial or self-insurance ) be fully analysed .
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