How is the amount of my assessment determined?

The Department of Real Estate typically requires an initial budget from the developer for each community that a developer proposes to build. This budget is set upon specific guidelines for utilities, landscaping, administration, etc. Reserve funds are monies set aside for future expenses due to the life expectancy of certain items: lighting, street resurfacing, pool equipment, etc. These amounts are then divided by the number of units built in a given phase of the development. Subsequent budgets are developed by the Board of Directors and adjusted periodically to meet anticipated expenses.

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1. What is a "management company," what do they do, and how do I reach them?
2. What is a homeowner's association?
3. What are the Covenants, Conditions and Restrictions (CC&Rs)?
4. What are the Bylaws?
5. What is the Board of Directors?
6. Are there any other rules?
7. If I am having a problem with a neighbor for a violation of the Policies and Guidelines, what can I do?
8. Are Board Meetings open to all residents? If so, where and when are they held?
9. If I want to serve on a committee, how do I find out what committees are active and how I can get involved?
10. What is my assessment?
11. How is the amount of my assessment determined?
12. Will my assessment go up?
13. What happens if I don't pay my assessment?