Who is running your homeowner association (HOA)?

Over a quarter century under the developer's (Olympia) control- How is that possible and why?  Is this in the best interest of owners? It has been more over twenty (26) years since SHCA's inception. Three of five board members are appointed by our developer- Olympia Companies.

-Olympia provides no estimate when, if ever, it plans to complete construction and/or end its control.

-Until 2021, all three appointed members were employees of Olympia. Today, two remain employees of Olympia and do not even live in our community.

-SHCA's manager and Olympia Management Services (OMS) is a wholly owned company of Olympia Companies.

-OMS' management contract was recently (and in prior years) renewed without competitive bids.

 

Amazingly, Nevada regulators are aware of this encompassing span of control and have done nothing.

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SHCA owners should be concerned. Can we be assured the association fiduciaries (Board and manager) will always act in the best interests of owners, when they conflict with Olympia interests- an inevitable event?

 

Under the law a developer can appoint who he wants to the board. However, once appointed a board member has a fiduciary duty to the association - composed of the homeowners not the developer. When the developer is your employer, that puts you in a difficult spot - where I believe we find most of the current appointed SHCA directors. If Olympia did not recoup its money by the time 75% of the units were conveyed, it should not be permitted to pass its bad planning or its bad decisions onto the homeowners of Southern Highlands by restricting their fundamental rights.

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