Operational Knowledge & Decades of Experience

New community development requires significant planning and expertise. Walters provides operational knowledge and decades of experience to guide developers through the community planning and development process—resulting in a community that is healthy, well run, and responsive to its residents.

HOA Financial Management
HOA Financial Management

Walters is Your Partner

Setting a solid foundation

for your new community

Document Review

Having reviewed legal documents for communities ranging in size from 84 units to 3500 units, we are well versed with a wide range of documentation—including legal documents for business parks, condominiums, apartment conversions, single family, build-to-suit and master planned communities. 
We understand what constitutes “effective and enforceable” legal agreements and how to avoid provisions that may create problems during the development of the community. 
We provide written recommendations for changes or modifications, and will also share sample documents for consideration.

Site Plan Review

Walters is an ideal partner in the site plan review process. Our experience has taught us that oftentimes small changes to a site plan can prevent problems associated with maintenance, parking, utilities and other factors. An early site plan review also provides an opportunity to ensure that the physical components of the community are consistent with the legal documents of the Association.

Budget Preparation

Walters Management is a key partner in the financial operation of the associations we manage. Our deep understanding of the fiscal aspects of common interest developments uniquely positions us to assist in developing a budget for your community that is realistic and feasible. We will provide the budget preparation company with qualified bids to justify modifications or 
adjustments. More importantly, we understand the necessary balance between marketable assessment fees and effective financial planning. We are also well versed in the implementation and fiscal management of variable assessments, phased budgets, cost centers, maintenance agreements, subsidy agreements and developer billing.

Sales & Marketing Program

Creating a successful sales and marketing culture begins during the early stages of community development. Walters can provide education to your agents regarding the benefits associated with common interest developments, architectural control procedures and early disclosure information. We will also provide materials for new buyers that outline the advantages and benefits of living within a planned community.

Community Design Guidelines

Protection and preservation of the architectural standards and aesthetics of your development is absolutely essential. New homebuyers are eager to begin improvements to their new home and often unaware of the community’s design approval process. By developing clear and comprehensive design guidelines prior to the first sale, Walters helps facilitate and manage the approval process—avoiding miscommunication or unmet expectations. Our guidelines will incorporate provisions established in the legal documents of the Association and outline long-term maintenance responsibilities of the owners. 
We will also prepare and monitor a detailed tracking program to verify that new homebuyers are adhering to the established guidelines.

Community Rules & Regulations

Walters can work with community developers to draft Rules and Regulations for the members of the community. These Rules and Regulations will take into account basic neighborly considerations, enjoyment and use of common area facilities and owner maintenance responsibilities.

With the close of the first escrow, your planned development becomes a real community. At this stage, the focus shifts from planning to implementation. Our services during this important phase, include:

Annexation & Project Phases

Proper annexation requires supplemental declaration to documents, completion of final subdivision reports and BRE budgets as well as other necessary steps. Walters is well versed in the annexation process and, together with your legal counsel, will assure that additional phases are properly assimilated into the community. 
Our accounting and escrow departments have extensive knowledge of phased developments. We will verify that with the close of an escrow in the next phase, all proper adjustments to financial considerations are made. Additionally, our manager will obtain insurance coverage options for your approval and implement any other necessary adjustments with the annexation of additional homes.

Common Area Turnover

With our extensive maintenance experience, Walters can assist you at every step of the turnover process. We will participate in all phases of the turnover process including physical inspections, utility transfers, coordination of installation and as-built plans and development of contract specifications for maintenance. We will facilitate the entire transition process from developer to association.

Bond Releases

We will work with your representatives to verify that all requirements have been met and any other obligations have been fulfilled for bond releases. We will provide documentation to facilitate the release of these bonds by the Board of Directors as appropriate.

Annual Calendar

During the development and implementation of your community, a calendar of key events will need to be created. These include scheduling the first members meeting, executing annual contracts and insurance policies and reporting certain information to the membership. 
Walters will assist you in creating a comprehensive calendar that includes every required element.

Financial Operations Set Up

An essential key in the long-term success of a common interest development is the implementation of solid accounting and financial planning. Due to our experience with new developments, we are experienced with creating delinquency policies, vendor qualification processes, work order systems and general owner information. We are also familiar with federal and state income tax requirements and will work directly with the Association’s accountant to verify that all appropriate steps have been implemented.

Driving Value by Delivering Results