What are the requirements for HOA records and documents?

In the state of Washington, homeowners associations (HOAs) are required to keep certain documents and records in order to remain in compliance with state law. The association must maintain financial records that include a full accounting of all funds received and expended. These records should include any assets or liabilities, meeting minutes, contracts, financial statements and/ or audits, member lists with contact information, and any other necessary documents. HOAs must also keep a record of any laws, regulations, rules, and restrictions that govern the community, such as bylaws and CC&Rs. In addition, HOAs must keep a record of all official notices sent to members, such as the monthly HOA newsletter. The association must also store documents relating to legal proceedings and any insurance policies in place to protect the association or its members. Finally, any documents or records that are required by law to be kept must also be maintained by the association. These records must be kept in a place that is easily accessible and available for members to review upon request. It is important for HOAs to note that all records should be kept for at least seven years, and any documents related to finances must be kept for three years. If an HOA fails to keep these records, it could result in a violation of state law and potential legal action.

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What are the requirements for HOA records and documents?

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