The Basics of Running Board Meetings in Your Community Association
Posted on Friday October 27, 2017
Community associations are structured much like any other corporation with boards of directors, officers and members. They must operate as businesses whose board members aim to meet federal, state, local and association governance requirements. Holding required meetings helps ensure that the business of the association is conducted in the most effective, appropriate and transparent manner.
Choosing the Right Banking Program for your Community Association
Posted on Monday August 14, 2017
As a community association board member, one of your chief responsibilities is to protect the financial interests of your association and your fellow residents. That includes making sure that the association’s reserve and operating funds are carefully managed, protected and invested. Smart decision-making and sound financial stewardship are critical to the association’s long-term financial stability and health. Unfortunately, even the best-intentioned board members may not have the experience or financial knowledge to choose the right banking programs and products to meet their community association’s needs. What should you look for when choosing the best banking program for your association? Read on…
How Your High-Rise Can Respond and Prepare for Blackouts
Posted on Friday July 14, 2017
Losing power is never fun. But it’s bound to happen at some point, so preparation is the best defense. Obviously, different types of communities are affected by blackouts in different critical ways: high-rises lose their elevators and water; resort-style gated communities lose the ability to operate their gates. For residents, a blackout may be a short-term nuisance. For a community association, it can be a major headache in terms of risk management, safety and potential equipment damage that can provide an unwelcome shock to your budget.
Emergency Preparedness: What You Need to Know, and How Your Property Management Company Can Help
Posted on Thursday June 29, 2017
Although you can’t predict emergencies, you can prepare for them. The most important thing that both board members and management can do to ready themselves for the unexpected is to create a customized emergency preparedness plan. A quality community association management company will have the experience, resources and knowledge to help you develop a plan that fits your specific situation.
Beyond the Manager: Discover the Value in Your Management Company
Posted on Monday June 19, 2017
We all want to get the most for our money, and your community association is no different. When hiring a management company, it’s easy to focus on the bottom-line price and not understand the differences in real value among the proposals you see. The right community association management company will provide you with so much more than a good manager.
Is Your Association Covered If a Natural Disaster Strikes?
Posted on Tuesday June 13, 2017
Mother Nature has quite the surprises to throw at us! Sometimes, there’s some notice and time to prepare. But often, there’s no warning at all. That’s why it is critical to the financial health of your community association that you have the correct insurance coverage in place. What can happen if your high-rise building or community association common areas aren’t properly covered? Unfortunately, nothing good. Association members can also sue the board for not having the correct insurance in place; it’s an important part of your financial responsibility. That's why it is important to make sure your Association is covered with insurance.
Planning Your High-Rise Maintenance and Capital Improvements
Posted on Wednesday May 24, 2017
Maybe this has happened to your high-rise association: An unexpected capital expense finds your condominium’s board of directors needing to impose a special assessment. Establishing a plan for your building’s maintenance and capital improvements is not only important for your budget. It can also prevent life-threatening catastrophes. So what does it take to put together a program that protects both the health of your association’s finances and the safety and lifestyle of your residents? Find out in our interview with Phil Pool, vice president at FirstService Residential.
Resale Packages and Certificates 101 for Community Association Boards in Virginia
Posted on Wednesday April 26, 2017
For most people, buying a home is the largest investment they make. We all know there’s a lot of paperwork that comes with buying a home, and although it can seem overwhelming, that paperwork is vital for the protection of the buyer, the seller and the community in which the home is located. If you are buying or selling a home in managed community, a resale package is a critical part of that. What is a resale package and why is it important? How do you get one and when do you need it? We sat down with our Director of Resale to get the answers to these and other important questions.
Four Secrets to Great Communication in Your Association
Posted on Monday February 06, 2017
There’s one challenge that plagues all board members, regardless of experience: communication. Part art and part science, communication is the key to building strong relationships and effectively meeting your obligations as a board member for your community association. Here are a few quick tips to ensure communication is flowing in your association.
How to Create a New Revenue Stream from Your Amenities
Posted on Wednesday February 01, 2017
Savvy boards are always keeping an eye out for ways to maximize revenue. If you’re interested in ramping up your revenue streams, take a look around and imagine the possibilities. Read tips on how you can generate cash flow from your existing amenities.