How Can My Association Fund Capital Improvements?
Posted on Thursday November 09, 2017
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.
Active Shooter Training: What Should Your Community Do?
Posted on Wednesday November 08, 2017
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.
What Is a Balance Sheet? Why Do I Need to Understand Them?
Posted on Monday October 30, 2017
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.
Why Does Our Association Need an Annual Insurance Review?
Posted on Thursday October 12, 2017
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?
Preventing Community Association Fraud: Part One – The Board’s Role
Posted on Thursday October 05, 2017
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.
What Should My Association Consider When Planning a Budget?
Posted on Friday September 22, 2017
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.
After the Storms: A Harvey and Irma Update from Our CEO
Posted on Thursday September 21, 2017
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.
How Can We Improve Our Association’s Financial Stability?
Posted on Tuesday September 19, 2017
There’s a lot to love about living in a community with a homeowners association (HOA). The amenities. The sense of belonging. The high aesthetic standards. But none of that happens without stable finances. With that in mind, here’s the bottom line on financial best practices for your HOA.
Why Transparency Matters in Communicating Your Community Association Budget
Posted on Thursday September 14, 2017
You’ve done all the homework. Crunched the numbers. Your reserve study is complete, your vendor agreements have been checked and your budget is done! Now what? There’s an entire process to creating the budget, followed by implementing it, and clear communication to homeowners, through every step of the process, is the best way to avoid problems.