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What is a Reserve Study?: What They Are & Why They Are Important
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. -
Smart Financial Planning
Safeguarding an association’s operating and reserve funds is one of the main fiduciary duties of all board members, not just the treasurer. This means that boards must protect the financial interests of the association and its members by making sure all funds are properly managed, invested and protected. -
The Do’s & Don’ts of Board Communication
The tips in this quick reference guide will help your board communicate better with residents in your community association. -
The Six Secrets to Building Your HOA’s Volunteer Pool
Whether you’re on the board of a single-family homeowners association (HOA) or a high-rise condo association, your community depends on volunteers to operate successfully. However, finding residents who are willing to be on your board of directors, join a committee or help at an event can be challenging. -
Tips to Maintain Your Minnesota HOA Finances
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. -
True Financial Stability
A strong, healthy association requires every facet of property management to work in sync toward one common goal...true financial stability. -
Understanding Community Association Reserves and Reserve Studies
One of the most important responsibilities your community's 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 not for 20, it’s the board’s fiduciary duty to make sure your community association has adequate funds when the time comes. That’s where reserve funds come into play. -
Repairs and Maintenance vs Capital Expenditure: What's the Difference?
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. -
4 Tips to Improve How Your Board Communicates the HOA Budget
Developing the annual budget for your homeowners association (HOA) is one of your board’s most important jobs. It requires hard work and often means making difficult decisions about spending. At times, homeowners may question some of those decisions or even vehemently disagree with them. -
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? -
Does Your HOA Have A Plan For Fostering A Sense Of Community?
Humans are social creatures with a deep-seated yearning for connection and community. This is particularly evident in an HOA, where a strong sense of community can be the difference between long-standing residency and high turnover. -
Five Steps to Running More Effective HOA Board Meetings
One of the most challenging aspects of being on the board of your homeowners association (HOA) can be running board meetings. It’s not always easy to keep everyone tuned into the business at hand. In addition, you have to manage the inevitable disagreements among board members. How do you keep these meetings running smoothly? -
Getting Your Building’s Spring Cleaning Started
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. -
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The Six Secrets to Building Your Community Association's Volunteer Pool
Your community association depends on volunteers to operate successfully. However, finding residents who are willing to be on your board of directors, join a committee or help at an event can be challenging. -
The Surprising Way to Stretch Your Association's Dollars
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. -
Understanding HOA Reserves and Reserve Studies for Homeowners Associations
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. -
2020 HOA Budget Trends: What Has Changed?
Have HOA budgets changed in 2020? Find out what 7 trends have shaped association budget planning this year. -
Avoid These 5 HOA Board Blunders
To help you avoid the most common board blunders, we’ve identified four mistakes and some practical ways to avoid them. By preventing blunders, you can help steer your board in the right direction, which can ultimately help improve your overall community. -
Cyber Security and Your HOA, Part Two: The Board’s Role in Data Safety
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. -
Financial Statements 101 – the What, Why and How
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. -
Before Creating a New HOA Policy, Ask These 5 Questions
Great policies can help your association run smoothly, enhance the resident experience and improve your reputation. Here are five questions to ask before creating a new HOA policy. -
5 Surprising Reasons to Raise Your HOA Assessments
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.