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Congratulations! You just bought a new home and it’s perfect for your family – just the right size, condition, location and neighborhood to meet your needs. Your new home is part of a homeowners’ association (HOA), which means you will pay HOA fees. What is an HOA fee? What do they pay for?

The chief responsibility of a community association board member is to preserve, protect and enhance the community. That includes, above all else, its financial health. But you can’t affect the financial health of your community if you don’t understand where it is when you join the board. Balance sheets are the best tool for gaining that basic understanding.

Read on for more about how to best complete your next annual association budget, a budget that will enhance your property values and improve your residents’ lives.

Public Mass shootings have unfortunately become common place in America and around the world. From schools and movie theaters, to businesses and homes, shootings have occurred in a mix of environments. But what should you do if you unexpectedly find yourself in the middle of this kind of emergency at your residential building?

2016 saw the United States swamped in a record year of flooding, the most since record keeping began in 1980. Devastating flooding swept Louisiana, West Virginia, Texas and Maryland, costing billions in damage. In Canada, about half of all natural disaster costs are incurred from flooding, reaching into the billions of dollars in recent years.

Your community or condominium association is there to protect the interests of all of its members. However, there may be situations when one or more residents don’t believe that the association is on their side. Hopefully, everyone involved can come to a reasonable solution, but if you can’t, it’s possible that your association – and even your board members – could become the target of a lawsuit.

You know that your association needs to have the right insurance coverage in place. So you have property coverage, liability insurance, workers’ compensation, directors and officers (D&O) and an umbrella policy in place. Premiums are paid regularly and on time. Did you know that’s not enough?

Whether you live in a high-rise condominium in Chicago, a homeowners association (HOA) in Houston or an active adult community in Las Vegas, emergencies can happen. Do you think your residents would know where to go or whom to contact in an emergency situation? Does your onsite staff know what to do to protect residents and the community’s property in the event of a major storm like a hurricane, tornado or severe blizzard? How well would they handle a flood, a fire or a violent outbreak?

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.

How well your board communicates has a tremendous impact on your community association. Every board can benefit from these 5 principles.

You've been elected as the President of the Board for your community association. You're signing up for a very important job! Here are some necessary skills!

Volunteering on the board of a community association is not for the faint of heart and can be a full-time job! Communities come in different shapes and sizes, but serving on a board of directors is similar across the board.

Social media can be a phenomenal marketing and communications tool for your community association! But you need a strategy!

Your fiduciary responsibility is the most important commitment to fellow homeowners. Learn cost containment strategies that can save your association money.

It's hurricane season again. As soon as June 1st rolls around, we are assaulted with hurricane preparedness pamphlets and emergency information at every turn.

The COVID-19 pandemic is presenting unique challenges to shaping a solid 2021 budget. Is your association budget on target to meet your short-term goals and help achieve your long-term vision?

Every community can expect to experience negligent or careless guests who will either cause a ruckus, or worse, damage association property. When that happens, deciding who should be held responsible for their actions can create a delicate – and potentially volatile – situation. Oftentimes, Boards may go after the owner, but they shouldn’t forge full-steam ahead without some sort of ammunition.

Clear, effective communication from the board to the residents makes a difference! Poor communication can negatively impact your community's reputation, operating budget and property values.

The strongest hurricane preparedness plan won’t be effective if you haven’t communicated it. Make sure that everyone knows what to do by following these important recommendations.

A proper budget is the cornerstone of any business, and a Condominium or Homeowners Association is certainly no exception. Here are steps you can take to make the process as painless as possible.

Property taxes are a reality for all property owners, but they can petition for an appeal. Condo owners and association Boards can file a joint petition for property tax appeal to cover all units in the building.

Know what questions to ask a prospective property management company in Florida? Check out our list to ensure you have all the right information before making a choice.

Estoppel certificates are a critical part of any real estate transaction and can be confusing. What's included, how are they created, what does it all mean? Learn more here.

In February, the World Health Organization declared a public health emergency when cases of the Zika virus began to spread, impacting Florida.