3 Facts About Insurance Most Minnesota HOA Boards Misunderstand
Posted on Tuesday July 17, 2018
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.
Reserves: What Are They and Why Are They Important?
Posted on Monday May 21, 2018
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.
3 Ways Your HOA or Condo Association Can Fund Capital Improvements
Posted on Tuesday May 15, 2018
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?
Managing Your HOA’s Maintenance and Improvement Projects
Posted on Friday April 27, 2018
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?
Five Steps to Running More Effective HOA Board Meetings
Posted on Wednesday April 11, 2018
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?
The Six Secrets to Building Your HOA’s Volunteer Pool
Posted on Thursday February 15, 2018
Whether you’re on the board of a single-family homeowners association (HOA) or a high-rise condo association, your community depends on volunteers to operate successfully. However, finding residents who are willing to be on your board of directors, join a committee or help at an event can be challenging.
Does Your HOA Have A Plan For Fostering A Sense Of Community?
Posted on Thursday January 18, 2018
Humans are social creatures with a deep-seated yearning for connection and community. This is particularly evident in an HOA, where a strong sense of community can be the difference between long-standing residency and high turnover.
Demystifying Maintenance and Repair Roles for Residents in Your HOA
Posted on Wednesday December 20, 2017
How well do homeowners in your community association understand maintenance responsibilities? pYou might think that responsibilities for maintenance, repairs and replacements would be straightforward enough – what’s inside the condo unit is the homeowner’s, and what’s outside is the association’s.
Preventing HOA Issues When Snowbirds Fly the Coop
Posted on Wednesday December 13, 2017
As Minnesotans anticipate spending the winter months knee-deep in snow, it’s likely that some residents in your homeowners association (HOA) are anticipating spending their winter in a warmer climate.