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Preventative Roof Maintenance is Crucial to the Sustainability and Longevity of Your Roof
Preventative Roof Maintenance is Crucial to the Sustainability and Longevity of Your Roof
Nov 16, 2017We can all agree there are many important elements to a housing structure, but your roof is probably the most important. Changing temperatures, snow accumulation, large amounts of rain, ice dams and high winds can all cause major damage to condominiums, townhomes and single-family homes. These harsh weather conditions can create all sorts of problems, from minor leaks to major cave-ins that can cost an association thousands to repair.
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True Financial Stability
True Financial Stability
Sep 26, 2017A strong, healthy association requires every facet of property management to work in sync toward one common goal... true financial stability.
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Smart Financial Planning
Smart Financial Planning
Sep 26, 2017Safeguarding 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. -
Preventative & Predictive Maintenance are Critical to Your Replacement Reserves
Preventative & Predictive Maintenance are Critical to Your Replacement Reserves
Sep 14, 2017Reserve 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
Understanding Community Association Reserves and Reserve Studies
Sep 12, 2017One 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.
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Association Budgets: Mapping Out Your Strategic Plan
Association Budgets: Mapping Out Your Strategic Plan
Jul 25, 2017Dive into what it takes to have a strategic plan for the budgeting process. -
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Association Budgets: Things to Consider When Creating Your Budget
Jul 24, 2017The 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. -
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Association Budgets: Creating a Road Map to Success
Jul 20, 2017It’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. -
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Is Energy Taking a Big Bite Out of Your HOA’s Operating Budget?
Jun 23, 2017You 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. -
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LED Lighting Offers a Bright Way for Condo Associations to Save
Jun 06, 2017Has your condo association been looking high and low for ways to save energy and money? The answer may be right over your head. Switching to LED bulbs can reduce your lighting costs by up to 75 percent. In this article, we answer common questions and shed some light on the benefits of LED lighting.