Here’s where you’ll find recent articles about FirstService Residential, as well as our impact on the areas we serve.
Are residents in your community always aware of upcoming events, construction projects and board meetings? Do they understand their responsibilities and the policies they need to comply with? When your board clearly and effectively communicates with residents, it has a positive impact on the overall wellbeing of your condo or homeowners association (HOA). Open and honest communication creates the perception of transparency and facilitates a feeling of community.
If your community is managed by a property management company, you probably have an after-hours number you can call for urgent issues. But what if you simply want to take care of day-to-day association business? “People don’t operate in normal business hours anymore,” says Rolando Hernandez, national customer care director at FirstService Residential. “Residents and board members need to be able to take care of community business how and when it’s convenient for them.”
When you think of the kinds of organizations being the target of a cyberattack, you probably don’t think of your homeowners association (HOA). But as a small businesses, your HOA faces a growing risk. In its annual study, the Ponemon institute reported that more small and medium-sized businesses had been the victim of a data breach in 2017: 61% of respondents as compared to 55% in 2016.
Rules and regulations are important in any homeowners association (HOA). But when they aren’t enforced, are enforced inconsistently, or go a bit too far, they can create resentment and put your HOA at risk.
Being a board member means you have a fiduciary responsibility to your homeowners association (HOA). In part, protecting the association’s interests means ensuring that you find insurance that provides the most coverage at the lowest price. However, understanding the complexities of HOA insurance isn’t easy. Chances are that your board finds it downright confusing to know what kind of coverage your HOA needs and how each type of policy works.
Reserve components are association maintained major property components with a determinate useful life. The analysis of the reserve components results in accurate and supportable annual reserve fund contributions.
Sooner or later, every homeowners association (HOA) or condominium association has to invest in capital improvements. Whether that means installing a new heating and cooling system in your high-rise building, replacing the roof on your clubhouse or upgrading the equipment in your fitness center, you can’t overlook these long-term, big-ticket items. But what’s the best way for your association to pay for them?
Keeping your property maintained and making needed improvements are important aspects of your homeowners association’s financial health. To manage these crucial responsibilities effectively, you need to stay on top of day-to-day projects, as well as create and adhere to a long-range plan. What does it take to make those goals a reality?
One of the most challenging aspects of being on the board of your homeowners association (HOA) can be running board meetings. It’s not always easy to keep everyone tuned into the business at hand. In addition, you have to manage the inevitable disagreements among board members. How do you keep these meetings running smoothly?
What makes a community a great place to live? A lot goes into it, but it’s no secret that often depends on community engagement.
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