3 male and female HOA board members in suits dissecting a treasury document
What Are the Qualities of an Effective Board Treasurer?Aug 17, 2017
The board members of your community association serve many important leadership functions. Although they may have diverse backgrounds and skill sets, they are all committed to the common goal of bettering your community association, taking actions that ensure its financial health, enhancing property values and improving the lifestyles of the residents.
Community association board members sitting at a desk in suits, looking animatedly at a laptop
Choosing the Right Banking Program for your Community AssociationAug 14, 2017As a community association board member, one of your chief responsibilities is to protect the financial interests of your association and your fellow residents. That includes making sure that the association’s reserve and operating funds are carefully managed, protected and invested. Smart decision-making and sound financial stewardship are critical to the association’s long-term financial stability and health. Unfortunately, even the best-intentioned board members may not have the experience or financial knowledge to choose the right banking programs and products to meet their community association’s needs. What should you look for when choosing the best banking program for your association? Read on…
Close up of man's hand over chart on a desk and female hand holding a pen
Five Steps You Can Take to Maintain Your HOA’s Financial FitnessAug 11, 2017
The principles to fiscal fitness and physical fitness aren’t that different: Don’t overindulge. Make smart choices. Keeping your community association’s finances healthy requires care and exercising good judgment. Follow our tips to help you do that.
Community association board members in suits having a meeting around a wooden coffee table
Seven Essential Financial Best Practices for Your Community AssociationAug 11, 2017
Community associations can be wonderful. They have amenities that otherwise might not be so close to home, like a community pool, fitness center, golf course or riding trails. Being part of a managed community often means having shared interests with your neighbors, imparting a sense of community that isn’t easy to achieve in an ever-transient world. It means that everyone abides by the same high aesthetic standards. But none of that happens without stable finances, including a balanced budget and a well-funded reserve.
Four males and females in professional attired, facing front, smiling, with arms folded
Is Your Community Staffed Adequately?Aug 10, 2017Staffing your community association is both an art and a science. Your community’s culture and lifestyle are supported by the staff you choose, and it’s important to make sure that you’ve got the right people in the right positions, and enough of them. Properly staffing your community goes far beyond having people to answer the phone and handle packages or keep the pool clean and tidy.
Graphic of calendar with words, How to Create a Long-Term Budget
Easy Steps to Help Complete Your Next Association BudgetJul 31, 2017
Budgeting can be tough. It involves looking at priorities and the needs and wants of your community, the money coming in and going out and making it all balance. Crafting a responsible, effective budget is one of the primary ways that your Maryland community association board members fulfill their fiduciary responsibilities to the community. Planning ahead and knowing what’s expected will help make the process painless and smooth!
FirstService Residential's L.E.A.D.S conference of 2017
Planning for L.E.A.D.S. 2017 is underwayJul 14, 2017
FirstService Residential is proud to announce L.E.A.D.S. 2017 will take place on Wednesday, September 27th at the Convention Hall in Asbury Park, New Jersey. We are excited to report that our biannual event is now taking place annually! Our educational, networking event is focused and shaped on the attributes of Learn, Evolve, Achieve, Deliver, and Succeed.
Lightbulb next to melted wax candle on a black background
How Your High-Rise Can Respond and Prepare for BlackoutsJul 13, 2017
Losing power is never fun. But it’s bound to happen at some point, so preparation is the best defense. Obviously, different types of communities are affected by blackouts in different critical ways: high-rises lose their elevators and water; resort-style gated communities lose the ability to operate their gates. For residents, a blackout may be a short-term nuisance. For a community association, it can be a major headache in terms of risk management, safety and potential equipment damage that can provide an unwelcome shock to your budget.
Road bridge with a purple cloud background
If Disaster Strikes, Is Your Community Association Covered?Jul 05, 2017
Mother Nature has quite the surprises to throw at us! Sometimes, there’s some notice and time to prepare. But often, there’s no warning at all. That’s why it is critical to the financial health of your community association that you have the correct insurance coverage in place. What can happen if your high-rise building or community association common areas aren’t properly covered? Unfortunately, nothing good. That's why it is important to make sure your Association is covered with insurance.
Graphic of clipboard with words, How to Prepare for an Emergency
Emergency Preparedness: What You Need to Know, and How Your Property Management Company Can HelpJun 29, 2017Although you can’t predict emergencies, you can prepare for them. The most important thing that both board members and management can do to ready themselves for the unexpected is to create a customized emergency preparedness plan. A quality community association management company will have the experience, resources and knowledge to help you develop a plan that fits your specific situation.