Articles

Here’s where you’ll find recent articles about FirstService Residential, as well as our impact on the areas we serve.

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True Financial Stability

Posted on Tuesday September 26, 2017

A strong, healthy association requires every facet of property management to work in sync toward one common goal...true financial stability.

Smart Financial Planning

Posted on Monday September 25, 2017

Safeguarding an association’s operating and reserve funds is one of the main fiduciary duties of all board members, not just the treasurer. This means that boards must protect the financial interests of the homeowner association and its members by making sure all funds are properly managed, invested and protected.

Preventative & Predictive Maintenance are Critical to Your Replacement Reserves

Posted on Thursday September 14, 2017

Reserve 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

Posted on Tuesday September 12, 2017

One 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. 

Association Budgets: Mapping Out Your Strategic Plan

Posted on Tuesday July 25, 2017

Dive into what it takes to have a strategic plan for the budgeting process. 

Association Budgets: Things to Consider When Creating Your Budget

Posted on Monday July 24, 2017

The 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. 

Association Budgets: Creating a Road Map to Success

Posted on Thursday July 20, 2017

It’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.

10 Meeting Myths in Community Associations

Posted on Monday July 17, 2017

There are several reasons why you might be having trouble. Let's dispel some common meeting myths and explore what it takes to run a good one.

Nine Ways Your HOA Board Can Avoid Conflicts of Interest

Posted on Wednesday December 28, 2016

Having a fiduciary responsibility to your homeowners association means putting the interests of your community first. Even the perception of a conflict of interest can put you and your association at risk. Learn the nine things you can do to recognize and avoid potential issues.

How to Keep Snow Removal from Plowing Through Your HOA Budget

Posted on Wednesday December 14, 2016

It’s that time of year again—snow removal time, that is. Unexpected winter weather can wreak havoc on your budget if you don’t plan carefully. Keep snow removal from burying your homeowners association budget by reading these five recommendations.

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