What are condo fees in New Jersey?

Losing power is never fun. But it’s bound to happen at some point, so preparation is the best defense. Different types of communities are affected by blackouts in different critical ways: high-rises lose their elevators and water; resort-style gated communities lose the ability to operate their gates. For residents, a blackout may be a short-term nuisance. For a community association, it can be a major headache in terms of risk management, safety and potential equipment damage that can provide an unwelcome shock to your budget.

Congratulations are in order – you’ve just been elected to the board. So now the big question: What’s next?Follow these new board member basics and you’ll soon be governing like a pro.

Although you can’t predict emergencies, you can prepare for them. The most important thing that both board members and management can do to ready themselves for the unexpected is to create a customized emergency preparedness plan. A quality community association management company will have the experience, resources and knowledge to help you develop a plan that fits your specific situation.

Just as in any successful business organization, succession is an integral part of a healthy community association board. Planning ahead, and planning strategically, provides for a more seamless operation for your board. When individuals are prepared for and knowledgeable about a role, they can hit the ground running immediately after the election. Here are several ways you can help make this happen.

What should you look for in a prospective community association management company to help avoid a rough transition? How can your association avoid financial missteps and pitfalls when switching from one management company to another? Make sure that the management company you are considering has the resources you need in every aspect. Transitioning to a new company is simply too large a task for one manager to handle!  A team approach is the best way for a professional community association management company to handle a transition. 

We all want to get the most for our money, and your community association is no different. When hiring a management company, it’s easy to focus on the bottom-line price and not understand the differences in real value among the proposals you see. The right community association management company will provide you with so much more than a good manager. 

Maybe this has happened to your high-rise association: An unexpected capital expense finds your condominium’s board of directors needing to impose a special assessment. Establishing a plan for your building’s maintenance and capital improvements is not only important for your budget. It can also prevent life-threatening catastrophes. So what does it take to put together a program that protects both the health of your association’s finances and the safety and lifestyle of your residents? Find out in our interview with Phil Pool, vice president at FirstService Residential.

You want your community association management company to respond when you need them. Shouldn’t a good management company be able to foresee some of your association’s needs and meet them before you ask? That’s the principle at the heart of proactive service, when emergencies are prevented rather than responded to. The best service is proactive, but its very nature – preventing problems before they arise – means that it can be hard to spot. So how do you know that your community association management company is being proactive on your behalf? Read on for some ways you can tell if your management company is behaving proactively.

Mother Nature has quite the surprises to throw at us! Sometimes, there’s some notice and time to prepare. But often, there’s no warning at all. That’s why it is critical to the financial health of your community association that you have the correct insurance coverage in place. What can happen if your high-rise building or community association common areas aren’t properly covered? Unfortunately, nothing good. Association members can also sue the board for not having the correct insurance in place; it’s an important part of your financial responsibility. That's why it is important to make sure your Association is covered with insurance.

Chances are that you don’t associate your high-rise building’s preventative maintenance plan with Benjamin Franklin. However, his well-known adage “By failing to prepare, you are preparing to fail” couldn’t be more relevant, according to the Director of Project Services, Frank Fittipoldi, in the High-Rise Division at FirstService Residential in New Jersey. That’s why he recommends that every high-rise condo or co-op board put together a detailed preventative maintenance plan for their building. Start to create your plan with these tips.