-
The Sharing Economy Part 2: Reducing the Risks to Condo Associations and Residents
Short term vacation rentals are popular with both travelers and the homeowners that rent to them. Perhaps you have stayed in a home that was advertised on Airbnb or VRBO. Maybe you have rented your home this way. For the most part people love this alternative to staying in a hotel or a B & B. But what are the implications when the home is part of a multi-family community? What about the common areas and amenities for which all the owners pay upkeep? There can be insurance implications as well. This article discusses some ways the risks to the condominium and its residents can be reduced. -
Six Simple Steps to Develop Your Condo Budget
A good budget provides the framework for the successful operation of a condominium corporation. Sometimes condo board members are daunted by this important undertaking. We have broken the task down into manageable steps to help you create a financial plan that will accomplish your goals. -
Smart Financial Planning
Safeguarding a condominium corporation’s operating and reserve funds is one of the main fiduciary duties of all board members, not just the treasurer. This means that boards must protect the financial interests of the corporation and its members by making sure all funds are properly managed, invested and protected. -
Staying Ahead of Your Condo Corporation’s Maintenance and Improvement Projects
Continually maintaining and improving your property is crucial if you want to protect your condominium corporation’s financial health. To ensure that these important responsibilities are well managed requires a long-term plan and a means of effectively handling day-to-day projects. Here’s how you can make that happen. -
The Role of Your Condo Board Treasurer
The board of a condominium corporation has many roles and responsibilities. This article highlights the importance of the duties the treasurer must fulfill on a volunteer condo board. -
What are Your Property Manager’s Responsibilities
What are your property manager's responsibilities? Find out if they have what it takes. Upcoming Condominium Management Licenses and more. -
Long-Term Community Planning is Your Legacy
Adequate funding and planning preserves your community for future residents. -
Florida HOA Laws 2020
Learn more about which Florida HOA laws passed in 2020, and how these new bills will affect your community. -
Local Law 152: Updated Requirements for Boards and Buildings
Is your building prepared for Local Law 152 gas piping inspections? FirstService Residential recommends getting ahead of schedule to avoid unforeseen deficiencies and costly fines. -
Tax Certiorari: Fast Facts for Boards and Owners in New York City
FirstService Residential managed properties have access to the tax certiorari experts at Goldberg Weprin Finkel Goldstein LLP, the premier firm in this specialized field. -
FISP (Local Law 11) - Understanding Cycle 9 Requirements in NYC
FirstService Residential has invested substantial resources to facilitate each of our managed properties with facade inspections and is here to help you navigate the many intricacies of FISP. -
4 HOA Strategies to Cut Costs and Maintain Assessments
There are valid reasons to raise assessments, but in some cases, you may be able to go a different route. Here are four strategies to save your HOA money and keep assessments stable. -
5 Surprising Reasons to Raise Your HOA Assessments
If your main concern is to avoid increasing assessments, you may want to reconsider. As a board member, one of your primary fiduciary responsibilities is to protect property values, and assessments are an investment that helps do just that. -
Reserve Funds: Six Ways to Improve Association Returns
Are you really getting the best returns on your reserve funds? Most board members aren’t sure. Learn six ways to improve your reserve fund returns. -
Delivering Value: FirstService Residential Energy Aggregation Purchasing Program
FirstService Residential has helped boards and building owners save millions of dollars in energy costs, in part, through our Energy Aggregation Purchasing Program. -
Market Trends & Best Practices: Property Insurance for Boards & Building Owners in 2021
Around the world, the property and casualty insurance industry experienced record losses from 2016 to 2019, and consumers are now feeling the effects on both a macro and micro scale. -
Mitigating Board Liability & Personal Exposure – Part One
A capable management company will enforce procedures and invest in technologies that help limit legal liability for the condo or co-op, and also mitigate board member personal exposure. -
Mitigating Board Liability & Personal Exposure – Part Two
Policy exclusions introduce increased risk to the board and often render a contractor’s policy meaningless. Properly vetting a contractor’s insurance is critical. -
How to fight a special assessment: Avoiding HOA special assessments
For board members, special assessments are typically unwelcome necessities. They are primarily needed because reserves have been underfunded and must be supplemented to pay for large capital projects such as replacing roofs or mechanical equipment. -
Ask the HOA Insurance Experts: Why are Premiums Spiking by 30%?
Insurance premiums are on the rise. Find out why the markets are hardening and find the right coverage for your Arizona association. -
A guide to HOA reserves: Ensuring your budget's success
As a board member, one of your top responsibilities is maintaining and improving your community’s physical property. However, it can be challenging to budget for new amenities like a dog park or gatehouse, as well as repairing or replacing other shared assets such as roofing or building facades. This is where HOA reserve studies come in. -
Inflation, Insurance, and “In Case Of…": Why to Consider an HOA Assessment Increase
Raising assessments can keep your association healthy (and help boost property values). Read on to learn why, how and when to raise HOA assessments. -
Local Law 97 Updates: Building Energy Grades & Emissions Compliance
Local Law 97 impacts roughly 50,000 buildings across the city, a majority of which are multifamily residential properties. -
Residential EV Charging Stations: Benefits & Incentives for Multifamily Buildings
FirstService Residential recommends that all boards and building owners consider the installation of EV charging stations and incentives available through NYSERDA and ConEd.