Articles

Community associations can be wonderful. They have amenities that otherwise might not be so close to home, like a community pool, fitness center, golf course or riding trails. Being part of a managed community often means having shared interests with your neighbors, imparting a sense of community that isn’t easy to achieve in an ever-transient world. It means that everyone abides by the same high aesthetic standards. But none of that happens without stable finances, including a balanced budget and a well-funded reserve.

The principles to fiscal fitness and physical fitness aren’t that different: Don’t overindulge. Make smart choices. Keeping your community association’s finances healthy requires care and exercising good judgment. Follow our tips to help you do that.

Your reserve fund is what helps your association anticipate its future– and budget for it, too. This fund gives you the power to maintain the quality of your community by allowing for projects that are both necessary and expensive. Needless to say, establishing this fund can get a little complex. But you don’t have to be a fortune teller to read the future of your association, you simply need a good reserve study firm to help. Here’s how you can find one.

There’s no reason to put off your next annual budget. You’re not just planning for the next year; you’re planning for the long-term quality and longevity of your community. We know that budgeting isn’t necessarily easy, but there are things you can do to make it less stressful and more rewarding for everyone involved. Read on for expert advice on how to budget more easily.

FirstService Residential is proud to announce L.E.A.D.S. 2017 will take place on Wednesday, September 27^thp at the Convention Hall in Asbury Park, New Jersey. pWe are excited to report that our biannual event is now taking place annually! Our educational, networking event is focused and shaped on the attributes of Learn, Evolve, Achieve, Deliver, and Succeed.

Losing power is never fun. But it’s bound to happen at some point, so preparation is the best defense. Obviously, 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.