The board of directors is made up of property owners who are elected by property owners. Residents are welcomed and encouraged to attend and participate in the board’s monthly meetings either in person or virtually. Monthly financial reports, balance sheets and meeting minutes are posted on line for owners. Between meetings WLRMS maintains a business office where residents may receive information, raise issues of concern, and seek opportunities to volunteer.
WLRMS is a community owned not-for-profit corporation operating without pressure to return profits to investors, we are only concerned with delivering value to residents. While we have assumed the role of the developer in maintaining the infrastructure of the community, our homeowners association is not diverting capital resources to develop new phases of the subdivision. Annual increases on assessments are capped at 5%.
Often developers move from project to project, while owners invest for generations. Resident owned since 2012 means that our community is focused on preserving long term value and protecting our owners’ investment in their properties. We plan for sufficient financial reserves to meet the community’s future needs with a 30-year reserve study and a 5 year rolling capital plan.