New Jersey HOA late fees and fines: What to know

Part of your job as a board member is ensuring the safety of residents in your community association. To that end, it’s important to educate homeowners about possible fire risks and the steps they can take to prevent fire hazards in their homes.  Chances are that fire safety isn’t top of mind for residents. However, home fires are more common than most people realize.

It’s an issue that every board faces sooner or later: how many renters should our association allow in our community? 
 
Some issues to look at when considering a rental restriction are the availability of individual mortgages for units and the association’s ability to get a loan, for a capital improvement for example.

Can a high-rise refuse a service animal if it is against their policies? Learn more about NJ service animal dog laws & regulations in your high rise.

Social media sites, such as Facebook and Nextdoor, are quickly becoming favorite mediums for information sharing amongst neighbors mainly due to their ease of use and mobile accessibility. However, it’s important for your board to establish how these sites will be administered. Here we’ve identified a few of the most common issues frequently made on homeowner-controlled social media sites and some suggestions on how you can keep things aboveboard.

Nothing lasts forever…and when it comes time to replace your high-rise roof, community pool or to add new amenities, your association will need to determine how to pay for it. All of these things – significant repairs and replacements, as well as new construction – are considered capital improvements.

As part of your responsibility to preserve, protect and enhance your community association, you may choose to bring in a professional property management company. Professional management can provide a depth of resources that you may not have access to otherwise, can help you optimize your budget while improving your residents’ lifestyles and more. 

How many board meetings must your association hold? The number of required board meetings varies by association, so check your association bylaws. Some associations meet monthly, especially active high-rises, but some only meet quarterly. Regardless of how often your board meets, all of your meetings should be efficient.

Our Community Manager, Erin O’Reilly, CMCA, AMS, PCAM, has been published in the August 2017 issue of CAI New Jersey's Community Trends magazine. Her article highlights the importance of emergency preparedness and the appropriate procedures you can implement in your high-rise if a disaster strikes.

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. What can happen if you don't have an effective board treasurer?

As 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. Read on…