Members of common interest realty associations (CIRAS) are in many ways like the shareholders of a public company. They share in the risks of partnering with other owners in the operations of the CIRA, and the goodwill of the CIRA impacts the financial well-being of the CIRA members.
Because CIRA members have a right to understand the financial health of their CIRA, it is important that they have access to financial data that is meaningful and relevant. It is difficult to comprehend how well a CIRA is performing financially without being able to compare financial information to other CIRAs. Therefore, this site and the organization California Common Interest Realty Associations is being launched to provide a portal for CIRA constituents to have free access to CIRA financial data for use in making important statistical comparisons.
Insist that your CIRA participate in this program. It is free for all to access and there is no obligation to participate financially.
Insist your association offer financial statements, and request your Board to contribute to a good cause for all people interested in purchasing a home in a common interest realty association. You deserve to know how your association's financial reports compare to those of other associations!