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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?

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.

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.

Nothing bites into your budget like maintenance issues. Whether it’s the grounds keeping and upkeep that you pay for on a regular basis or those surprise projects (natural disasters, anyone?) that sneak up on you, maintenance can account for an average of 25% or more of your overall expenditures.

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.

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?

So winter’s coming...and you’ve got a watchful eye on driveways, roofs and other essential areas. But don’t forget about one of the most freeze-sensitive parts of your buildings and systems: pipes.

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.

A good spring-cleaning can do wonders for your community association. Here are some tips to get your started.

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?

Ah, Florida nights. Perfect temperatures. And...a disgusting mass of undulating insects climbing up the side of your building? Learn how to get rid of millipedes.

There is no way to avoid surprises when it comes to the maintenance of your community. Preventative maintenance ensures that your systems are keeping future problems at bay; predictive maintenance is also effective.

Your fiduciary responsibility is the most important commitment to fellow homeowners. Learn cost containment strategies that can save your association money.

It's hurricane season again. As soon as June 1st rolls around, we are assaulted with hurricane preparedness pamphlets and emergency information at every turn.

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?

Every community can expect to experience negligent or careless guests who will either cause a ruckus, or worse, damage association property. When that happens, deciding who should be held responsible for their actions can create a delicate – and potentially volatile – situation. Oftentimes, Boards may go after the owner, but they shouldn’t forge full-steam ahead without some sort of ammunition.

A proper budget is the cornerstone of any business, and a Condominium or Homeowners Association is certainly no exception. Here are steps you can take to make the process as painless as possible.

Property taxes are a reality for all property owners, but they can petition for an appeal. Condo owners and association Boards can file a joint petition for property tax appeal to cover all units in the building.

Know what questions to ask a prospective property management company in Florida? Check out our list to ensure you have all the right information before making a choice.

Many community association boards and residents would like to implement energy efficiency measures in their communities. But what about the cost to get started?

Estoppel certificates are a critical part of any real estate transaction and can be confusing. What's included, how are they created, what does it all mean? Learn more here.

In February, the World Health Organization declared a public health emergency when cases of the Zika virus began to spread, impacting Florida.

A great board treasurer has skills and characteristics to tackle the responsibilities of planning and strategizing the financial livelihood of a community. The right treasurer can make a big difference!

As a Floridian, you're pretty familiar with flood insurance, but you may not be aware of the recent changes in the law. Learn more here!