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How to plan an effective association budget for your community
Preparing your association’s annual budget...it can be a source of stress, but more importantly, it’s a valuable opportunity to ensure the financial well-being of both your association and homeowners. Proper association management hinges on this financial tool for both short-term and long-term planning, so it’s important to follow some guidelines. -
How to Save with Bulk Buying Strategies
As consumers, we’re familiar with saving money by purchasing products like food and household goods in bulk. But, can this same savings model be applied to the purchases and operational costs of a homeowner association (HOA), condominium or community association? -
What is an HOA master insurance policy?
We know that in the same way we protect ourselves, our assets also carry this significance. That is why HOA master insurance policies are essential for your community, as this type of coverage can help you protect more than just your physical assets. -
HOA Pools: The basics of swimming pool insurance
Swimming pools are one of the most common, and most desirable, amenities in communities. Making sure to have proper community pool insurance coverage. -
Keeping HOA and Condo Common Areas Clean During the Coronavirus Pandemic
During these unprecedented times, residents are spending the majority of their time at home to prevent the spread of COVID-19 and protect themselves and their loved ones from infection. One of their primary contact points with the outside world is in your HOA or condo common areas, where they can be at risk of contact with lingering coronavirus or even spread existing virus to other areas of the property. Read on for a comprehensive list of places to clean and how to clean them. -
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Capital improvements vs repairs and maintenance: What’s the difference?
Maintaining your buildings’ assets is not a one-size-fits-all proposition. The common areas require a broad range of routine maintenance and repairs to keep them looking good and operating smoothly. -
9 tips about board of directors conflicts of interest
It’s a term that gets tossed around quite a lot. But “conflict of interest” is a real and genuine threat to your association and its proper stewardship. Understanding what the term means – as well as how to recognize and avoid conflicts of interest– can go a long way toward ensuring the strength and stability of your community and eliminating many concerns. -
FirstService Residential Executive Discusses Offbeat Second Home Investment Locations and Trends
While exclusive communities like the Hamptons or Malibu will always be attractive locations for affluent vacation home buyers, several new trends are emerging in the growing second home market. -
Hiring a reserve study company: 5 things to know
In our guide to capital improvements , reserve studies and their relationship to capital improvements and preventive maintenance were discussed at length. -
Seven tips to finding a reserve study company
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 (like a future roofing or paving project, for instance). -
Can HOA fees increase? The benefits of raising HOA dues
What exactly are HOA dues, and can an HOA raise dues without notice? In this article, we’ll explain what HOA dues are, HOA fee increase limits, and five benefits of small, regular increases. -
Starting a neighborhood watch program? Understanding neighborhood watch rules and duties
Neighborhood Watch programs can provide significant benefits to communities – after all, they boost community awareness, communication and involvement, while reducing opportunities for neighborhood crimes to occur. But if you’re interested in getting started, there are many important factors to consider. Here’s an overview. -
Surprising ways to stretch your HOA's dollars
If you’re on the board of a condo, co-op, high-rise or HOA, you know that managing your community’s 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. -
Tips for getting a mortgage: 6 simple mortgage loan tips
We’ve got the scoop on how to get a mortgage loan, so read on for our top six tips to increase your chances. -
Virtual Programs for Healthy and Happy Active Lifestyle Communities
Chances are, you joined the board at your HOA or condo because you’re extremely passionate about the community and want to improve the experience of the other residents within it. Part of adding value to residents in your community is offering classes and programs for them to participate in to get to know their neighbors and offer opportunities for them to stay happy and healthy. Read on to find some suggestions for great virtual programs for communities like yours. -
What is an HOA fee and what do HOA fees cover?
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? -
What is an HOA balance sheet? How to understand it
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. -
What to consider when planning an association budget
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. -
HOA lawsuit: Why community associations get sued and what to do if it happens to you
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. -
Why your association needs an annual insurance review
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? -
Budget Communications: Understanding your association budget
There's an entire process to creating, implementing, & communicating your association budget. Learn more about how to simplify this process. -
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. -
15 Things You’ll Want to Do Before Selecting an Insurance Agent
Insurance is one of the most important line items on your association's budget, but it is oftentimes the most expensive. Do you know how to select the right agent?