The short answer is no. A professional management company such as Community Association Management Services (CAMS) will assist in the successful operation of the homeowners’ association by carrying out a range of duties, but the authority to approve budgets, establish special assessments and set policies is left to the board of directors.
Regardless, it’s an interesting point and a definite cause of concern for many people. Thinking about it made me realize that there is a lot of confusion about homeowners’ associations and how they operate.
To provide clarification and dispel some of the myths about property owner associations, which include Planned Unit Developments (PUD) and Condominium Associations, I would like to offer the following:
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The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.