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Reserve components are association maintained major property components with a determinate useful life. The analysis of the reserve components results in accurate and supportable annual reserve fund contributions.

Maintaining the health of your Minnesota community homeowners association’s finances is similar to the way you keep yourself healthy: make good choices, don’t overindulge and exercise good judgement.

The Board Secretary is responsible for meeting the Association’s legal and financial obligations and maintaining the Association’s records. Depending on the Association’s requirements, some of the following tasks may need to be distributed to other Board Members or it might be necessary to appoint an assistant to the Secretary.

It’s no secret that association management is a big job. Across Minnesota, common areas require a lot of routine maintenance to uphold community standards – things like exterior light bulb replacements, landscaping and paint touch-ups. Depending on your townhome community, the scale of your amenities' needs will vary.

It’s that time of year again – budget season is upon us. You know the things to consider when creating your budget, but what drives your process? Are you focused on achieving a particular vision for your community? Avoiding conflict in the community? Solely looking to avoid increasing dues?

As community association managers begin their inspection, they note the necessary repairs for winter damage as they make their rounds through the community. The spring season is a time for renewal and a fresh look, so being able to properly landscape around the building is of utmost importance.

If you're on the board of a condo, co-op, high-rise or HOA, you know that managing your homeowner's association budget is a major priority. You've likely explored many ways to save money and get the best deals, while still maintaining a high level of service.

One of the most important responsibilities your HOA board of directors faces is effectively planning for major common-area repairs and replacements. Whether a costly expenditure is needed in a few years or 20 years from now, it’s the board’s fiduciary duty to make sure your homeowners association (HOA) has adequate funds when the time comes. That’s where HOA reserves come into play.

Have HOA budgets changed in 2020? Find out what 7 trends have shaped association budget planning this year.

Be honest: As a board member for your homeowners association (HOA), how much do you think about cyber security? More and more, hackers are targeting small businesses – and remember, your HOA is a small business. In part two of this three-part series, we offer tips that your board should take to keep your community safe from hackers.

Your board took the time to create a solid budget your association can stick to. Now how do you regularly measure your success at doing so? Regularly generated financial statements are the best tool for keeping an eye on the fiscal fitness of your association.

If your main concern is to avoid increasing assessments, you may want to reconsider. As a board member, one of your primary fiduciary responsibilities is to protect property values, and assessments are an investment that helps do just that.

Without a doubt, beautiful landscaping makes life in your community more enjoyable. But did you also know that it can play a crucial role in boosting your community’s reputation in the marketplace, and consequently enhancing property values?

An effective Nevada homeowners association will not only recruit great volunteers and committee members, but will empower them to help improve the community. The question is – how do you get there?

Are you really getting the best returns on your reserve funds? Most Nevada board members aren’t sure. Learn six ways to improve your reserve fund returns.

An important job when you are on the board of a homeowners association (HOA) is to properly manage the HOA budget. One way that you probably do this is by trying to get the highest-quality products and services at the lowest possible prices. Sure, it’s great to save a couple of hundred dollars, but what if you could save even more? Some Nevada communities have done just that.

It’s vital to prepare for the future and take steps to protect your association reserve funds. Here are 3 ways to manage reserves during a crisis.

FirstService Residential offers tips on spring preventative maintenance for high-rise buildings.

There are valid reasons to raise assessments, but in some cases, you may be able to go a different route. Here are three strategies to save your HOA money and keep assessments stable.

From Las Vegas to Lake Tahoe, Nevada attracts a multitude of tourists and convention attendees. One type of lodging that has gained popularity among visitors is renting a room, a high-rise unit, or an entire house from a homeowner. This may seem like a great way for homeowners to make some extra cash while giving travelers a way to avoid the cost of more expensive hotels. However, there are a number of things to consider before deciding to rent out your home—especially if you belong to an HOA.

There are numerous reasons why working with a management company can help your community achieve its vision and goals. Read on to learn 6 of the major benefits you can experience when you transition from managing your own staff to having a staff ran by a management company.

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.

Everything you need to know about the tax certiorari process in New York.