The Role of Lone Star Association Management, Inc.

As most neighborhoods in this area, the business affairs of the neighborhood are handled by a five-person homeowners association (HOA). This five-member board meets periodically throughout the year to discuss the affairs of the neighborhood to ensure that it remains a clean and safe place to live. By law, the HOA conducts an annual meeting in which all homeowners are encouraged to attend and elect new board members. We encourage everyone to take an interest in the neighborhood by being an active participant in the annual meetings. Please let your HOA know if you have any concerns because we're here to represent everyone!

Your semi-annual dues assessment pays for the upkeep of the common areas of the neighborhood as well as the community pool. Our neighbors to the south known as KRCII or the Ashton Addition, pay dues assessments to KRC for the privilege of having access to the community pool. The daily business of the neighborhood is managed by Lone Star Association Management. Lone Star works closely with your HOA to ensure that KRC remains the quality neighborhood that is today.

Community association management is a specialized field. Lone Star Association Management, Inc. (Lone Star) is a professional management firm with nine (9+) years experience in the field, currently managing 80 communities in the Dallas and Ft. Worth Metroplex. A management team that usually includes a community manager, administrative assistant and an accounting manager serves each community.

The day-to-day activities of your community's team include many different tasks, but most will fall under the following general headings:

• Advise and provide administrative, managerial and operational counsel to the Board of Directors in order to assist the Board in decision making and operating the business affairs of the Association
• Perform site inspections of the community
• Direct the enforcement of the restrictive covenants
• Solicit, evaluate and assist in acquiring insurance consistent with the requirements of the Declaration of Covenants, Conditions and Restrictions and in accordance with instructions from the Board of Directors
• Solicit and evaluate bids for all association services
• Supervise maintenance activities and contractor performance
• Provide and explain association financial reports, which are kept in accordance with GAAP (Generally Accepted Accounting Principles)
• Financial collections and disbursements (including the collection of delinquent accounts and working with title companies prior to the selling of a home)
• Help develop association budgets
• Work with an independent CPA firm selected by the Board of Directors to audit the association's books and records
• Serve as a receiving center for association related homeowner and vendor telephone calls
• Provide privacy to homeowners by having a third party involved in cases of dispute

Lone Star team members keep current with changes in Federal, State, County and City legislation that effects planned communities. They regularly attend seminars and in-house training sessions and Community Associations Institute (CAI) courses especially formatted for community association management. Lone Star works closely with a network of independent attorneys, CPA's, insurance agents and others who specialize in their particular field as it applies to non-profit planned communities. As a result, if you have a legal or professional question that Lone Star can't answer, we will have ready access to someone who knows the answer.