Articles

There are many reasons that Nevadans choose to live in high-rise buildings. Perhaps for you, it’s the concierge services and great security. Or maybe you especially enjoy all the amenities. Just as high-rises offer residents a unique lifestyle, they also present unique insurance requirements for both associations and individual unit owners.

While some surprises (birthday parties, a promotion or a new puppy) are good, many surprises such as a flat tire or an IRS audit are not.  One particularly nasty surprise is finding out that someone has broken into your vacant property and moved in.  Thankfully, during the last legislative session, new laws were passed  to deal with “squatters” which allow you to (relatively) quickly and legally remove squatters from your property.
 

The 2017 Nevada Legislative Session, which begins on February 6, 2017, is quickly approaching. Find out four things you should expect your management company to do before, during and after the 79^th session of the Nevada Legislation convenes.

Transitioning a community from control by the property developer to control by a homeowners association (HOA) can be a scary time for residents and a challenging process for HOA board members.

It is not always easy for homeowners to understand the different types of meetings that homeowners’ associations (HOAs) hold. Even for board members, it can sometimes be confusing to know which type of meeting is the right venue for a particular issue or topic. How certain are you that meetings in your community are being run in accordance with Nevada law and your HOA bylaws?

HOA board members wear a lot of hats, and for many jobs, this works well. However, there is one job in particular that your board should leave to a professional community management company: Human Resources (HR).

Your HOA’s reserve fund is an important element in planning for your community’s future. In fact, it may even be the most critical piece of your budgeting, according to Dan Henein, vice president of client accounting at FirstService Residential. Henein explains that “long-term, the reserve study has a tremendous impact on your association’s fiscal health.”

One of the defining characteristics of HOAs is the use of Covenants, Conditions and Restrictions (CC&Rs). Although you might be familiar with the term, do you know how it really affects Nevada associations? Here’s a look at what they mean to you and how they affect you as a member of your community.

As a board member for an HOA in Nevada, you know that financial stewardship is the foundation of good community management. You might think that revolves around smart budgeting and planning, and you’d be partially right. But strong finances are also the result of implementing smart banking programs and purchasing the right insurance coverage.
 

The help of a good community management company can make a world of difference for you and your fellow board members. But finding the company that best fits your association’s needs can sometimes present a challenge.