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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. -
Four ways to fund an HOA capital improvement project
Living in a residential community means around-the-clock routine maintenance to preserve the community and its assets. But there comes a time when one of your assets will reach the end of its useful life and require a replacement or significant repairs. -
5 HOA fundraising ideas to boost revenue
It’s the typical budgeting dilemma for community association boards: How do you keep assessment fees manageable and still maintain the community’s operations? -
Best practices to improve HOA 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. -
Enhancing energy benchmarking in condos and co-ops
Condominiums (condos) and cooperative housing communities (co-ops) are increasingly recognizing the importance of sustainability and energy efficiency in today's world. One vital tool that plays a crucial role in this effort is energy benchmarking. -
How the consumers price index (CPI) can impact your HOA
If your community is professionally managed, consult your property management company for more information – a quality firm can 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 HOA 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. -
8 tips for creating and enforcing HOA rules
Good rules make good community members. The most important factors in association policy making, whether for a condo, co-op, townhome or master-planned community, are clarity and sensibility. The board must be clear – and united – on the policy being created and then must communicate that policy to all residents. Whether the policy is about overnight guest parking, designated smoking areas, amenity usage or approved flooring, the basic steps to creating good policy and enforcing it successfully are the same. It’s important that everyone involved, including board members, residents and the management team, understand who is responsible for the various roles that are part of policy creation, enforcement and compliance. -
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. -
Six summer energy conservation tips
Summer’s longer days mean more time to enjoy warm weather and sunshine, but they also mean higher energy bills. There is a bright side, however: by implementing an energy management program within your community, you can help keep costs down without sacrificing comfort. -
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? -
What is an HOA master insurance policy?
We know that in the same way we protect ourselves, our assets also carry this significance. That is why HOA master insurance policies are essential for your community, as this type of coverage can help you protect more than just your physical assets. -
Incentives Aim to Green Up New York, Reduce Operating Costs for Building Owners
A recent study found that 75% of greenhouse gasses in New York City are generated by buildings, primarily multifamily residential buildings. As part of a city-wide effort to incentivize buildings to develop programs to curb emissions, FirstService Residential held its Third Annual Green Expo & Symposium on May 15 in New York. The event featured a panel of industry experts, including FirstService Residential President Dan Wurtzel, who described the benefits of participating in city programs, as well as the opportunities to save money, help the environment and enhance property values. -
HOA Pools: The basics of swimming 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. -
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5 HOA annual meeting requirements to keep your meeting on track
Your board should give residents the opportunity to have their voices heard, but you also have a responsibility to keep the meeting moving forward. Use these 5 HOA annual meeting requirements to stay on track. -
Capital improvements vs repairs and maintenance: 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. -
Tips for community waste management in your association
With a growing focus on proper environmental stewardship, many associations are working toward implementing green initiatives. But getting there can be daunting. With so many programs and opportunities available for all of us to reduce, re-use and recycle, it’s hard to know where to begin. -
9 tips about board of directors 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. -
Put an Energy Saving Program Together for a Multifamily Property
Many HOAs and community associations would like to save energy and energy spending, but they think that putting an energy management plan into place for their multifamily property is difficult to accomplish. FS Energy's Chris Normandeau explains some basic, easy-to-do steps that can make a real impact on an association's energy usage and budget. -
Hiring a reserve study company: 5 things to know
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 company
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). -
5 energy conservation strategies for community associations
In this article, we delve into the significance of energy conservation within community associations, exploring its benefits and strategies for effective implementation.