Here’s where you’ll find recent articles about FirstService Residential, as well as our impact on the areas we serve.
Every year about the same time, your community association board is most likely creating its budget for the following year. Learn about seven commonly neglected items in community association budgets that you may be missing.
No one wants to find mold in their home or any association building. Unfortunately, mold is ubiquitous – it’s in the air and in the water, and when given the chance, it spreads like crazy. Learn steps to prevent mold or to have it assessed and properly treated, preserving your buildings and the health of your residents.
Nothing lasts forever…and when it comes time to replace your high-rise roof, community pool or to add new amenities, your association will need to determine how to pay for it. All of these things – significant repairs and replacements, as well as new construction – are considered capital improvements.
More than 1.4 million Americans have been killed by gunfire since 1968. Many of those shootings were accidental; some were suicides; some were at the hands of law enforcement officers in the line of duty. But many were not. Mass shootings, meaning that at least three people were killed by gunfire, have become an almost daily occurrence in the United States, with instances increasing each year since 2000, and many instances becoming more deadly. Thankfully, incidents of violence in community associations are rare, but unfortunately, they do occur.
The chief responsibility of a community association board member is to preserve, protect and enhance the community. That includes, above all else, its financial health. But you can’t affect the financial health of your community if you don’t understand where it is when you join the board. Balance sheets are the best tool for gaining that basic understanding.
You know that your association needs to have the right insurance coverage in place. So you have property coverage, liability insurance, workers’ compensation, directors and officers (D&O) and an umbrella policy in place. Premiums are paid regularly and on time. Did you know that’s not enough?
Fraud can strike just about any association – even one that is professionally managed – regardless of how small or large your community may be. However, a good property management company will have checks and balances and other security measures in place to help reduce the risk.
As a homeowner who lives in an association, you put a lot of trust in the people designated to manage your association’s money. So it can come as quite a shock if you discover that one of those people has been stealing from your association’s funds. Fraud can leave you and your neighbors feeling betrayed and vulnerable.
Budgeting can be tough. It requires that boards look at their priorities and the needs and wants of the community, plus the money coming in and going out -- and making it all balance. As an association board member, producing a responsible, effective budget is one of your primary responsibilities.
We have a very long road to recovery ahead for both Texas and Florida, for those of us affected by Hurricanes Harvey and Irma. In the aftermath of the storms, there are tangible examples of our industry leadership, and in particular, why our ability to immediately leverage the depth of resources we have at our disposal is such a powerful differentiator for us. Here are a few examples of how we leveraged our resources, organization-wide, to ensure seamless service delivery for our clients.
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