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When a lot of people think about high-rise living, they don’t necessarily jump to the idea of families in high-rises. In many cities, high-rises are still considered the domain of the young and single, or couples without kids or active retirees. The New York Times even ran a piece, in 1987, decreeing that “A High-Rise Is Not a Home for Children.” But today, thanks to a Millennial generation that doesn’t want to commute from the ‘burbs, more and more high-rises are actively courting families as residents.

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 the good news: hiring the right property management company is going to make your life as an HOA Board Member much easier. On the flip side: there is no shortage of property management firms to choose from, so selecting the best fit for your community association is going to take a little bit of work.

Annual meetings don't have to be boring! Learn how your community association board can entice your homeowners into attending with easy tips.

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.

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?

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.

Regardless of the size of your community, or where it’s located, there is always one thing that every community association board and committee needs: resident volunteers. Unfortunately, however, volunteers are often a scarce resource.

Swimming pools are one of the most common, and most desirable, amenities in communities. Making sure to have proper community pool insurance coverage.

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.

Missouri’s Curry Association Management, the newest member of the FirstService Residential family, was recently honored for its substantial efforts and ongoing commitment to the Police Athletic League (PAL) of Kansas City, which provides a safe and stable haven for the area’s underprivileged youth.

John Friedrichsen, Senior Vice President & CFO of FirstService Residential parent company FirstService Corporation, is quoted in USA Today about how HOAs benefit from the value-added services provided by leading professional management companies.

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.

If you volunteer your services to your homeowners association, you know there are many rewards – but also, quite a few challenges. There are residents with individual demands and concerns and Board members who may have difficulty agreeing. There is also the critical need to carefully develop – and adhere to – a strict budget. And that’s just the beginning.

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.

Homeowner and condo association board members know that their collective actions yield lots of great results. Just take a look at the minutes from your last couple of meetings and you’ll see all the evidence you need.

Sooner or later, most community associations face some kind of management change. If your community has a great manager, you probably want them to stay forever. But how realistic is that?

Are you familiar with the term “fair living space”? If you’re not, you should be – it can have a profound effect on your community, your association and your residents. A fair living space involves providing an environment in which people with disabilities enjoy the necessary accommodations in their homes and community amenities. It’s really all about access, and something the law calls “reasonable accommodation,” which means “a change, exception, or adjustment to a rule, policy, practice or service.” While the law may require you to make some accommodations, there are other things your association may be able to do which can further enhance the lifestyle of those who reside in your homeowners association. While it will directly and positively impacts the quality of life for those residents with challenges and disabilities, it will also positively impact the overall image of your community.

In our guide to capital improvements , reserve studies and their relationship to capital improvements and preventive maintenance were discussed at length.

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).

Read about the Affordable Care Act (or ACA) and the ACA will have on the association and its vendors/service providers.

Let’s face it: nobody puts “organizing paperwork” at the top of his or her favorite-things-to-do list. But maintaining good records is essential to the critical functions of your homeowner association (HOA), and following a system of organization can streamline your operations by increasing efficiency, providing transparency and preserving a history of communication.

As a board member, you can measure your success in a lot of different ways. The projects you’ve completed, the financials you’ve strengthened, the long-term plans you’ve put in place – all of these are clear indicators that you’ve done your job, and you’ve done it well.