Articles

Here’s where you’ll find recent articles about FirstService Residential, as well as our impact on the areas we serve.

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How an Integrated Maintenance Plan Can Keep Your HOA From Walking on Thin Ice

Posted on Wednesday November 01, 2017

Cold weather will soon be upon us, so now is the time for your homeowner association (HOA) to make sure your maintenance program is on track. As brutal as Chicago winters can be, you certainly don’t want to discover a leak in your roof during a heavy snowfall or have a boiler stop working during a record cold spell. Don’t get caught in the cold!

Smart Financial Planning

Posted on Tuesday September 26, 2017

Safeguarding an association’s operating and reserve funds is one of the main fiduciary duties of all Chicago board members, not just the treasurer. This means that boards must protect the financial interests of the association and its members by making sure all funds are properly managed, invested and protected.

True Financial Stability

Posted on Tuesday September 26, 2017

A strong, healthy association requires every facet of property management to work in sync toward one common goal... true financial stability.

Preventative & Predictive Maintenance are Critical to Your Replacement Reserves

Posted on Thursday September 14, 2017

Reserve studies are based on the assumption that components will reach their maximum useful life. However, if a preventative maintenance plan doesn’t accompany your reserve study, it’s highly unlikely some components will ever reach their maximum useful life. 

Understanding Community Association Reserves and Reserve Studies

Posted on Tuesday September 12, 2017

One of the most important responsibilities your community's board of directors faces is effectively planning for major common-area repairs and replacements. Whether a costly expenditure is needed in a few years or not for 20, it’s the board’s fiduciary duty to make sure your community association has adequate funds when the time comes. That’s where reserve funds come into play. 

Association Budgets: Mapping Out Your Strategic Plan

Posted on Tuesday July 25, 2017

Dive into what it takes to have a strategic plan for the budgeting process. 

Association Budgets: Things to Consider When Creating Your Budget

Posted on Monday July 24, 2017

The annual budgeting process offers an opportunity for your board to explore your association’s current financial condition and to ensure your community’s financial stability for the future. Successful association management hinges on a well thought out budget for both short-term and long-term planning. 

Association Budgets: Creating a Road Map to Success

Posted on Thursday July 20, 2017

It’s budget season! Are you stressed? Concerned about a potential dues increase or a large capital project that’s looming in the future? The word “budget” can be scary, so thinking about creating next year’s budget is daunting for many homeowners boards. We’d like to change that. In fact, we don’t want you to view next year’s budget as a task at all.

Is Energy Taking a Big Bite Out of Your HOA’s Operating Budget?

Posted on Friday June 23, 2017

You may not be able to control rising utility rates, but your condo or homeowners association (HOA) can take measures to make your energy budget go a lot further. Just follow the four strategies described in this article. They’ve already worked for many Illinois properties managed by FirstService Residential.

Managing Your HOA Maintenance and Improvement Needs

Posted on Tuesday June 13, 2017

The success of your community hinges on your association’s ability to manage maintenance and improvement tasks. Where do you begin?

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