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Discover our top takeaways around the three fiscal duties of Care, Priority, & Responsibility for your condominium association.

Discover our top takeaways around the three fiscal duties of Care, Priority, & Responsibility for your condominium association.

Discover our top takeaways around the three fiscal duties of Care, Priority, & Responsibility for your condominium association.

For some communities, the end of the year is a time to pass on the spirit of giving to its staff.

Before you begin outlining the financial steps for your community, keep these 7 HOA budget bloopers in mind.

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.

Capital reserve fund vs. improvements: Budget for both and know when and how to allocate them in your Texas HOA for a continuously improved community.

Learn about special assessments as a way to fund unexpected capital improvements

Handling day-to-day maintenance and making necessary improvements are critical responsibilities for any homeowners association (HOA). And when your serve on your association’s board of directors, they can quickly become overwhelming if you don’t have a good system in place to manage them. So how do you make sure that your maintenance staff is able to handle that long list of tasks that need to get done so that your community runs smoothly and retains its appeal?

The half-year mark has come and gone and we’re now staring budget preparation season in the face. With just a little preparation you can charge forward to tackle this budget with confidence. As North America’s leading association management company we are no strangers to annual budgets. In our experience the first step to successful budget planning is a little preparation. Here are a few quick tips to get you started on the right foot.

Your reserve study is important to your financial health, but how do you get one? How do you choose the right reserve study firm to conduct it? Learn more.

There's just something about living among a community with lights stretched around each tree that inspires a childlike enthusiasm for what lies ahead.

Before planning next year's budget, carefully examine how HOA and COA budget transparency shows residents how their money will make a visible difference.

At one time or another, every condominium corporation has to spend money on replacing equipment or making major repairs. Whether that means replacing a roof, installing a new ventilation system or any other big-ticket project, they are a necessity. But how should your condo corporation pay for them?

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/contributions?

It’s budget season! Are you stressed? Concerned about a potential dues increase or a large capital project that’s looming in the future? The word “budget” can be scary, so thinking about creating next year’s budget is daunting for many homeowners boards. We’d like to change that.

Get the details on creating a strategic plan for your community.

The annual budgeting process offers an opportunity for your board to explore your condominium’s current financial condition and to ensure your community’s financial stability for the future. Successful condominium management hinges on a well thought out budget for both short-term and long-term planning.

Keeping your condominium corporation’s finances healthy is much like keeping yourself physically fit. The key is to make smart choices and avoid over-indulgence.

Sometimes confusion exists over what expenses the operating budget covers and those that are reserve fund responsibilities. If board members understand the difference between the two, it's much easier for them to make the correct decisions when managing the affairs of the condominium corporation.

There are so many things to enjoy about living in a condominium community. Among them are the sense of community, the great amenities and the high standards. However, if your condo corporation’s finances aren’t stable, none of it is possible.

Proper condominium management depends upon the annual budget for both short- and long-term financial planning. It’s important to follow some guidelines to ensure the success of the community and protect the investment of the owners.

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.