How to Create a New Revenue Stream from Your Amenities
Posted on Wednesday February 01, 2017
Savvy boards are always keeping an eye out for ways to maximize revenue. If you’re interested in ramping up your revenue streams, take a look around and imagine the possibilities. Read tips on how you can generate cash flow from your existing amenities.
Cyber Safety: Steps Board Members Can Take to Protect Your Community
Posted on Sunday January 29, 2017
Isn’t technology wonderful? It’s made so many aspects of life easier, and that includes managing the operations of your community association. Technology does have its vulnerabilities, though, and it’s imperative that they be addressed. Your board can implement these four steps to begin putting your association on a more secure path.
Effective HOA Board Communication: A How-To Guide
Posted on Wednesday January 25, 2017
Great communication is more than just weekly messages about events and new rules. The residents in your community association rely on consistent, clear information communicated from their board members and management associates. Consider these guidelines as a roadmap to great communication that will keep everyone on the same path.
The Importance of Having a Partner to Manage and Activate Community Amenities
Posted on Monday January 23, 2017
Having a swimming pool, a fitness area, or a clubhouse for residents are perks that can make any community stand out. A good management company has people with many years of experience operating and maintaining these types of features, and they can offer many helpful ways for you to get the most for your community. Here are some ways your community can benefit from the experience of a community association management company, and make your job as a board member a little easier.
Successfully Implementing Your New Budget
Posted on Monday January 23, 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.
Ten Building Security Tips
Posted on Thursday January 19, 2017
We are all concerned about safety. High Rise management companies and Board members, who have a responsibility to protect the common property, must pay particular attention to security at their properties. A secure condominium means a happier and safer community, and that is what is most important to owners and residents.
Seven Guidelines for Finding the Right Insurance for Your High-Rise
Posted on Tuesday November 29, 2016
Life in a high-rise building has a lot of advantages. Besides being convenient to energetic downtown cultural and business districts, high-rises offer great amenities, good security, and even personal concierge services. High-rises also have their own requirements and challenges when it comes to insurance, as well as other unique needs. Insurance must adequately cover the shared common areas such as lobbies, mail rooms and pool decks. Each owner must also have the right coverage for each individual unit.
Consider these eight principles when creating and enforcing new policy.
Posted on Tuesday October 25, 2016
Community association rules are put in place for the benefit of everyone who lives in the community. It’s not the easiest task to make rules for a diverse community! The most important factors in association policy making, regardless of the type of community association, are clarity and sensibility. The board must be united on the policy being created and then must communicate that policy clearly to all residents. No matter what the policy is about, the basic guidelines to successful policy making and compliance remain the same.
How to Find the Right Reserve Study Firm for Your Community
Posted on Monday October 03, 2016
Your reserve fund is what helps your association anticipate its future – and budget for it, too. The reserve fund gives you the power to maintain the quality of your community by allowing for projects that are both necessary and expensive, including capital improvements such as a future roofing or paving project. Keep in mind that, in Maryland, a community association’s annual budget is required to provide for reserves. Needless to say, establishing your reserve fund can be a complex task. You don’t have to go it alone -- you simply need a good reserve study firm to help. Check out our seven tips to finding the right reserve study firm for your community.