Homeowner Association LLC or Inc Forms

Where do you get forms to start a homeowner association llc or inc?

2 Answers

When incorporating a new business, you need to contact your state's Department of Finance. Each state may have a different name for this department, but you can search your state government's web site and find the desired agency.

Once you have located the proper department, you can call or use the web site to create a corporation. The fees and requirements for doing so should be clearly stated.

If  creating an LLC, you should first discuss your proposed business with an accountant to determine if your new LLC should elect to be taxed as a corporation or as a partnership. Make sure to discuss the future liability options with the accountant.

Incorporating can be as simple as completing a single-page form with basic ownership information. You will need to check on the type of future reporting that will be required by your state for renewals, licensing, fees, etc.

TIP: Do not forget to discuss business insurance for your new company with a reputable insurance agent. This is a cost that many new business owners overlook.

It is fairly easy to form a homeowners association or HOA. Some call it a neighborhood organization or community association.

These are the steps:

  • You need to notify people of the intention to form the group. This can be by email, telephone, mail, or hand-delivered notices.

  • You need to elect officers. Typically President, Vice-President, Secretary, and Treasurer. Sometimes you will form committees and try to appoint every person who comes to some committee.

  • You need to form by-laws. It is easiest to start from by-laws already written, modify them as necessary, then present to the group. Otherwise you can get bogged down writing bylaws.

  • You need to establish a group meeting time and place. I recommend once a month. A public place is better if you want to increase participation. A home might be better if you want more control initially.

There are many services that can assist you such as legalzoom.com or you can download the forms from one of many sites and do it yourself.

I would recommend talking to a local attorney to make sure you're uptodate and compliant and it shouldn't cost but so much making it affordable to let an attorney do it for you, so you know it's right the FIRST time. Well you hope.

An attorney or tax consultant/CPA may be the best to answer whether or not an LLC or Inc is in your best interest based on your personal and business tax needs and liabilities.

There are many samples available online but a quick call to a local HOA may yield you their covenent and rules to give you an idea and point of reference.