Common Interest Developments: What Are They and Who Should Manage Them?

transcript

“Helping neighborhoods thrive”

MGM ASSOCIATION MANAGEMENT

04/13/2023 www.goMGM.com

What are CIDs?

A common interest development is real

property that combines individual ownership (separate interests)

with property held and managed in common

among all of the owners.

(a.k.a. subdivisions, developments, townhouses, &

condominiums)

Common Interest Developments

Origin 1830 - 1901 Emergence 1901 - 1935 Popularization 1935 - 1960 Expansion 1935 - 1973 Restructuring 1973 - 1990 Revitalization 1990 - 2014

Common Interest Developments Boise, Idaho

CID growth rate from 1990 to 2000 - 46.14%

Number of CIDs - 2,047 (2014) New construction rate - 17% over 2012 Second Best City in the US to raise a

family (Forbes Magazine)

One of the top 5 Cities to live in (Better Homes & Gardens)

Homeowner’s Association Board Challenges

Governing Covenants, Conditions & Restrictions (CC&Rs) and amending bylaws

Issuing Violations & Enforcing CC&Rs Collecting dues Loss of objectivity Places Board Member in uncomfortable

situations

HOA Governance

Requires a nomination and appointment by a majority

Volunteer, uncompensated position Untrained in conflict negotiation Lack resources and expertise Loss of objectivity Uncomfortable situations Diversion away from relevant issues

www.goMGM.com

Our Mission

“MGM Association Management is committed

to giving homeowner associations, homeowners and their board members

the peace of mind that their association is taken

care of by trusted professionals.”

6/15/2014

MGM Association Management

16 years of direct HOA experience

99% Collection Rate for HOA Dues and Violation fees

Contain Costs Reliable & transparent

accounting processes Customized & scalable

plans Expertise in

homeowner engagement

Management Services

Budget $1.00 /home Budget Plus $2.50 /home

Premium Service $4.50 /home

MGM Association Management

For more information:

Scott SetterlundSales Manager

POB 1246Meridian, Idaho 83680

(866) 833-3330scott@goMGM.com

www.goMGM.com

THANK YOU

Common Interest Developments: What Are They and Who Should Manage Them?

Leadership & Management