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  • Four Ways to Maintain Your HOA’s Financial Fitness

    Keeping your homeowner association (HOA) or community association’s finances healthy works the same way as staying physically fit: don’t overindulge and make smart choices. And the upside is that the only thing you’ll have to exercise is good judgment. Here are some tips to help you do just that.
  • High-Rise Insurance: Seven Tips to Cover Your Property

    Life in a high-rise property has its rewards. With great amenities, good security, and even concierge services, there are many advantages that are specific to just this kind of lifestyle. Similarly, there are specific requirements when it comes to insuring it, too. High-rises often have multiple residences, each with their own policies, plus shared common spaces, which also require coverage. Here are a few areas to help you determine if you and your high-rise community is adequately covered.
  • How Can My Association Fund an HOA Capital Improvement?

    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.
  • 5 Creative Ways to Create Revenue With Your Community Amenities

    It’s the typical budgeting dilemma for community association boards: How do you keep assessment fees manageable and still maintain the community’s operations?
  • How Can We Improve Our Association’s Financial Stability?

    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.
  • How the Consumer Price Index (CPI) Impacts HOA Assessments

    Nobody likes to see prices go up for things they want or need, whether it’s a plane ticket, a quart of milk or even a college degree. But as we all know, rising inflation often leads to rising costs – and that can impact the budget assessments set each year by homeowners associations (HOAs) or community associations. If your community is professionally managed, consult with your property management company for more information – a quality firm will be able to leverage its budgeting and financial experience to provide guidance. But to get you started, we’ve compiled some information about the Consumer Price Index – what it is and what you need to consider before you get started.
  • How to Choose the Right Community Banking Program

    Board members have a fiduciary duty to protect the financial interests of both their homeowners association and fellow residents – and that includes ensuring that their HOA’s operating and reserve funds are properly managed, invested and protected.
  • Here's 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?
  • How to Secure the Best Insurance Coverage for Your Community

    As a community association board member, the countless hours you volunteer go toward assisting with a very important objective – creating a safe and vibrant community. In many cases, this means assessing your association’s insurance policies to guarantee that your community is fully covered, appropriately insured and receiving the best value for the cost.
  • What to Know When it Comes to the Basics of Community 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.
  • Maintenance Tips to Help Your Homeowners Association Prepare for Fall

    With the dog days of summer behind us and the leaves starting to change, it’s essential that your community association begins to change its maintenance activities as well. In fall, preparation for winter is key – after all, despite an occasional lingering warmth in the air, we know that in many parts of the country, cold weather is inevitably on the way. Whether your HOA is self-managed or professionally managed, getting started on your fall and winter prep will help keep your operations running smoothly as the seasons and temperatures change – and that will keep your residents happy as well.
  • Maintenance and Repairs vs. Capital Improvements – 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.
  • Managing Community Maintenance and Improvement Needs

    Whether your community is self-managed or professionally managed, maintenance is a big part of the day-to-day responsibilities. It’s a responsibility that can quickly become overwhelming, especially when you walk in on a Monday morning to a list of what went wrong over the weekend.
  • Mold: How Should Your Association and Homeowners Handle It?

    No one wants to find mold in their home or any association building. Unfortunately, mold is ubiquitous – it’s in the air and in the water, and when given the chance, it spreads like crazy. Learn steps to prevent mold or to have it assessed and properly treated, preserving your buildings and the health of your residents.
  • Nine Essential Tips About 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.
  • Pros and Cons of Do It Yourself Repairs and Maintenance

    FirstService Residential's Bill Worrall discusses the hidden costs of DIY maintenance and repairs and provides great insight into how boards can determine what can be done in house and what should be subbed out to appropriate contractors.
  • 5 Steps to the Best Reserve Study Firm

    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 Firm

    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).
  • Seven Ways to Fight Mold - And Win

    It’s the scourge of households everywhere: the unsightly, unsanitary, unbecoming sight of mold. But waging war on mold means more than launching a full-scale assault when you see it (though that can be part of the battle plan). Instead, consider a comprehensive strategy – here are some tips to help you get started and steer clear of mold.
  • Six Things to Know About Fire Hydrants

    Aside from knowing to not park next to one, how deep is your knowledge of fire hydrants? Unless you’re a firefighter, it’s probably not that extensive. This may not be a problem... until the unthinkable happens and you need to be confident that your fire hydrants are in good working order. But like any equipment in your community, fire hydrants need to be maintained.
Showing 49 - 72 of 332