01 May President Joe Farinelli Featured in San Diego Union-Tribune
Walters President Joe Farinelli recently shared his 30 years of management experience with The San Diego Union Tribune. Here are things to think about before buying into an HOA community:
Joe Farinelli, president of Walters Management, said, “Homeowners will sacrifice a bit of freedom moving into a HOA if they want to experience the benefits of living in such a community. Make sure your lifestyle is aligned with the rules of the community, and that you can live under these rules.” Also be aware that HOAs are able to levy special assessments for major repairs, if needed. Before buying a home, Farinelli suggests researching three key elements:
1. Financial health of the HOA
Make sure the HOA is properly funded. Request a copy of financials available to homeowners. Check out how often dues have been increased over the years.
2. Maintenance responsibility
What is the HOA’s responsibility and what is the homeowner’s responsibility?
Understand the rules before you buy. The more you know, the easier it is to make the right decision.
President Joseph Farinelli has been a leader in the community and property management industry for more than 30 years. With experience in apartment management and commercial portfolios, Mr. Farinelli has honed his specialization in community association management where his attention has been for the past 25 years. With Walters Management, he is responsible for overall performance and operations with a focus on company growth. He has obtained the Community Associations Institute® prestigious industry credential of Professional Community Association Manager®, Institute of Real Estate Management® credential of Certified Property Manager® and the California Association of Community Managers℠ certification as a Certified Community Association Manager®. Mr. Farinelli’s commitment to improving the industry has been applauded numerous times by the San Diego Chapter of CAI® as he has been the recipient of its 2005 Recruiter of the Year Award, 2002 President’s Award and 2000 Speaker of the Year Award. He has previously served on the Professional Standards Committee and Board of Directors for the California Association of Community Managers℠ as well as the Association of Professional Community Managers Board. He also served on the national faculty for CAI®. Originally from Los Angeles, Mr. Farinelli is a graduate of San Diego State University.