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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.

In recent years, hurricanes have become so large that they can affect the entire state of Florida and move well into Georgia, causing loss of power, flooding or sustained damage.

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.

Discover some things that your management company should be doing to maximize your operating budget and keep your association fiscally fit.

As the days and weeks pass, and residents of your condominium or HOA are asked to stay home, it's more important than ever to help your community stay fit and active!

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.

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.

The dangers of smoking and secondhand smoke have been highlighted in recent years. Smoking also affects our physical environment by increasing risks of fire and property damage, raising insurance rates and increasing legal liability.

The distinct roles of the board and manager can shed some light on the ways the board can develop an effective partnership.

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?

New to a condo or homeowners association, or need a refresher? We put together some vocabulary you will want to be familiar with.

Energy conservation and managing HOA community environmental footprints are crucial, but board members have a responsibility to homeowners to exercise financial prudence and proactively seek ways to manage rising costs.

The holiday season is upon us, and nothing puts you in a festive spirit like pulling your holiday decorations out of storage. Many people derive a sense of community and comfort from seeing familiar decorations at the same time each year.

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!

You want your community association to be successful. All board members do. You know that means watching the finances carefully and maintaining the property. But do you think about effective board communication as an ingredient in your recipe for success? It is!

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.

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.

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.

It’s that wonderful time of year! Many of us are shopping online to get that perfect gift for our loved ones. And, for those doing last-minute shopping, we don’t want to have to worry that something will go wrong with our deliveries.

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.

Part of your job as a board member is ensuring the safety of residents in your community association. To that end, it’s important to educate homeowners about possible fire risks and the steps they can take to prevent fire hazards in their homes. Chances are that fire safety isn’t top of mind for residents. However, home fires are more common than most people realize.

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.

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.