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3 Cost Containment Strategies to Minimize Assessment Hikes
Your fiduciary responsibility is the most important commitment to fellow homeowners. Learn cost containment strategies that can save your association money. -
Budgeting in the Time of COVID
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? -
3 ways to pay for capital improvement plans
When your association has to invest in its property, whether for repairs or a new construction project, the financing for that work must be considered as carefully as the work itself. -
Eight Easy Steps to Preparing a Budget that Works
Your budget should be a tool to move your community to action, and as such, it is important to follow some guidelines. Below are eight tips for preparing a budget that works. -
Keeping Your Budget Healthy in the Age of COVID-19
Learn ways your association can offset the financial impact of the COVID-19 pandemic. -
Managing Your Association’s Paperwork: 6 Tips to Make it Easier
You're not alone if organizing paperwork is not one of your favorite things to do? Follow these 6 tips to streamline your operations and increase efficiency. -
Part 1: Electric Cars and Charging Stations - Is Your Community Ready?
Ready to trade in your gas card for some time at the charging station? If so, you'll join those who have made the switch from gasoline-powered vehicles to plug-in electric vehicles (PEVs). -
Part 2: Installing Charging Stations for Electric Cars in Your Community
Electric cars have arrived and there has been a surge of plug-in electric vehicle (PEV) purchases driving the need for charging stations. What does this mean for your association? -
5 Steps to the Best Reserve Study Firm
Nothing lasts forever and you need to have a plan to replace major items and systems before their lifespans end. How do you create that plan? Start with a quality reserve study. -
Seven Tips for Comparing and Finding a Reserve Study Firm in Georgia
Reserve studies are vital to the success of your association, which is why partnering with the right reserve study firm is critical. Here are some tips to help you find a reserve study firm. -
The Risks and Rewards of Self-Managed Community Associations
Are you doing all you can to make sure your self-managed community meets its goals? -
The Surprising Way to Make the Most of Your Association’s Budget
Discover some things that your management company should be doing to maximize your operating budget and keep your association fiscally fit. -
Understanding the Fair Housing Act: Homeowners Association
All associations are subject to the federal Fair Housing Act (FHA) and its antidiscrimination provisions. Stay informed to identify the ways you could be exposed to claims of discrimination. -
Upgrading Your High-Rise Amenities without Busting Your Budget
High-rise living has many perks, and high on that list is the amenities. For many home buyers, amenities can be the deciding factor when determining to buy a unit in one building over another. -
Slow and Steady: 5 Surprising Benefits of Raising Your Dues
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? -
How preventive maintenance can keep your HOA ready for all seasons
Cold weather will soon be upon us, so now is the time for your homeowner association (HOA) to make sure your maintenance program is on track. As brutal as Chicago winters can be, you certainly don't want to discover a leak in your roof during a heavy snowfall or have a boiler stop working during a record cold spell. Don't get caught in the cold! -
Is Energy Taking a Big Bite Out of Your HOA’s Operating Budget?
You may not be able to control rising utility rates, but your condo or homeowners association (HOA) can take measures to make your energy budget go a lot further. Just follow the four strategies described in this article. They’ve already worked for many Illinois properties managed by FirstService Residential. -
LED Lighting Offers a Bright Way for Condo Associations to Save
Has your condo association been looking high and low for ways to save energy and money? The answer may be right over your head. Switching to LED bulbs can reduce your lighting costs by up to 75 percent. In this article, we answer common questions and shed some light on the benefits of LED lighting. -
Planning Your High-Rise Maintenance and Capital Improvements
Your association should never have to rely on a special assessment for a capital expense that could have been foreseen – or even prevented. Here are five tips to keep your Chicago high-rise condominium association's budget in the black and keep up with maintenance and capital improvements. -
How Can My Association Fund Capital Improvements?
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 Can My Association Increase its Capital Improvement Budget?
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 Can We Benefit From Association Financial Services?
There’s a lot to love about living in a community with a homeowners association (HOA). The amenities. The sense of belonging. The high aesthetic standards. But none of that happens without stable finances. With that in mind, here’s the bottom line on financial best practices for your HOA. -
What Is a Balance Sheet? Why Do I Need to Understand Them?
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.