What the new Fannie Mae and Freddie Mac condo rules mean for buyers and boards

Losing power is never fun. But it’s bound to happen at some point, so preparation is the best defense. Obviously, different types of communities are affected by blackouts in different critical ways: high-rises lose their elevators and water; resort-style gated communities lose the ability to operate their gates. For residents, a blackout may be a short-term nuisance. For a community association, it can be a major headache in terms of risk management, safety and potential equipment damage that can provide an unwelcome shock to your budget.

Vendor management is a large part of serving on the board of a managed community. Every community has outside partners for services like landscaping, sanitation, cable and Internet provision, pool maintenance, valet services and more. Open and effective communication among the board, the management company and the vendors employed by the association is an important part of making the most of any community’s operating budget and improving the lifestyles of its residents.

As a board member, you want your community to grow and thrive. Having a vision for your community—the aesthetics of it, its reputation, the kinds of programming it offers and amenities it provides—is critical to its long-term well-being. A well-crafted vision will transcend board and resident turnover and keep your community on track.

Is your community always aware of upcoming events, scheduled construction projects and upcoming board meetings? Do they understand their responsibilities and the policies they need to comply with? Clear, effective communication from the board to the residents makes a difference in the overall well-being of any community. Poor communication, on the other hand, is a real problem that can negatively impact your community’s reputation and even your operating budget and property values.

Whether your community is self-managed or professionally managed, maintenance is a big part of the day-to-day responsibilities. It’s a responsibility that can quickly become overwhelming, especially when you walk in on a Monday morning to a list of what went wrong over the weekend.

When your homeowners association took control of your community from the developer, a lot of paperwork came with that. Some of the paperwork undoubtedly included a number of warranties. Since then, you have probably collected warranties for a range of products and services your association has purchased. But be honest: How familiar are you with them?

The Baby Boomers, born after World War II, are the largest generation in United States history. The last of them turns 55 in 2019. With their children grown and in their own homes, Boomers are entering an era in which they can do what they please. They are retiring or scaling back on full-time work and it’s their time in the sun. Literally. They may be getting older, but as the first generation of Americans to embrace the fitness craze and eating with longevity and well-being in mind, the Baby Boomers (and Generation X on their heels) are not planning to sit out their golden years in a rocking chair.

Holidays can be a lot of fun when you live in a planned community, condo or co-op. But when you are on your association’s board of directors, they can also be a lot of work. You have to make sure all the prep work is done, decorations are up, vacations are covered and parties are planned. Can a group of volunteers—as dedicated as you may be—possibly get it all done? And do you dare wish to do it with minimal stress, too?

Amenities continue to rank among one of the most important considerations for prospective buyers at both active adult and multi-generational lifestyle communities across the country. Amenities are highly influential in motivating a homebuyer’s decision about where they ultimately choose to live and also contribute to the overall level of satisfaction among current homeowners. Communities that fall short in meeting buyer expectations or that fail to plan amenities around consumer interests can be negatively impacted in terms of sales, referrals, profitability and reputation of their brand. Homeowner associations, tasked with planning for new amenities and implementation of supporting programming, will have influence on these important variables.

In part one of this two-part series, we discussed the importance of cyber security to your community association and the steps that residents can take to protect themselves and their association. In this article, we look at your board’s responsibility in preventing cyber attacks.

Like it or not, we have become very dependent on our technology. Whether it’s a cell phone, tablet or computer, our devices enable us to stay connected, conduct business and access information anywhere, anytime. Yet as convenient as these devices may be, cyber security is simply not a priority for the majority of tech users—despite the increased prevalence of cyber attacks. In part one of our two-part series, we look at why cyber security is so important to community associations. We also provide important steps that residents in your community can take to protect their technology so that sensitive information doesn’t fall into the wrong hands.

It’s easy to feel overwhelmed by the sheer volume of stuff we accumulate. And it’s hard sometimes to figure out how to part with things, what to do with them and where they should go. The experts at California Closets, the leader in custom home storage solutions, have you covered. Follow these tips to declutter your home and even do some good in the process.