Riverstone - Associa ProCommHOA

[lexnupe]

Originally Posted by Lordfalco

Lexnupe, is this currently a gated community?

No

[helendha]

Originally Posted by lexnupe

Did they? We have not received anything as of yet, I am curious as to when you received this literature.

Postmarked November 7th. Blue cover.

[IC_deLight]

Originally Posted by Bo

Procomm is not an HOA, it's the largest HOA management company in Texas. Your board of directors must have selected a new management company.

In my experience, no matter what company your HOA uses, the quality of the manager they assign to your HOA matters a lot. My HOA has had good managers and bad ones.

ProComm is not the "largest HOA management company in Texas". ProComm is one of many HOA management companies and affiliated businesses that are subsidiaries of Texas state Senator John Carona's Associations, Inc. aka "Associa" organization.

Likely you will find that the subsidiaries will steer insurance, etc. to other subsidiaries of Associa. Resale certificates will be generated by "Community Archives" - another Associa subsidiary. Insurance will be brokered/sold by Associations Insurance Agency - another Associa subsidiary. Banking will be switched to First Associations Bank, etc. The list goes on.

A number of recommendations:
1. Do not purchase the insurance affiliated with the management company. Instead purchase a policy that the HOA corporation will own - not one that the management company or its parent will own. You want insurance independent from the management company.

2. Bank at a bank distinct from and not affiliated with the management company. You want the HOA funds to be deposited in HOA-owned accounts. The HOA is the bank's client, not the management company. You want the ability to have control over your funds regardless of who the management company is.

3. When the management company insists upon indemnification from the HOA corp that it is managing, tell the management company to get their own insurance. After all the management company is proclaiming to be "professional".

4. Remove any provisions from the contract that purport to give the management company a cut of any loans that the HOA takes out.

5. Remove any provisions from the contract where the management company demands a cut of claims paid from the insurance proceeds.