A fortune teller asked me to gaze into her crystal ball. “I see wear and tear in your condominium’s future. I see a new roof will be needed. I see cracking paint and asphalt in need of repair. I see (gasp!) no money to pay for these things!” It doesn’t take a fortune teller to predict that common elements are going to wear out and it doesn’t take a crystal ball to predict that HOAs are going to need money and a plan to fix them. So why do so many HOAs fail to properly plan for these predictable events and expenses? Read the article……………….
Board members who strive to serve the best interests of their resdients regardless of their personal interests are critical to leading a community. These are a few of the must-have traits and skills that make board members successful: Read the article………………
If you are shopping for software to help you manage your portfolio of Condos and HOAs, the range of options available to you can be overwhelming. We help you make sense of the many types of Property Management software and how they work for community association management. I sometimes feel Community Association Management (CAM) is one of the last great frontiers of business: Read the article……………..
Summer is right around the corner and with it comes the dreaded hurricane season. Floridians know that hurricanes bring significant damage not only to properties but to landscapes as well. Therefore, it is important to be prepared for these storms by sheltering your home and making sure you have stocked up on food, water and other essentials. The work is not done, however. We often overlook a very important part of our homes, the landscape. During storms, flying debris from poorly tended landscapes can result in notable damage and injury. The following are some tips on how to prepare your landscape and mitigate damage: Read the article………………
The timely payment and collection of homeowner association assessments is essential to an association’s financial well-being and efficient operation. The association’s Board of Directors has a fiduciary responsibility to stay on top of assessment collection so that delinquent assessments do not accumulate, depriving the association of needed operating capital. This article provides an overview of the assessment collection process for homeowners associations in Maryland. Information is provided to help associations adopt their own assessment collection policies and procedures that work best for their communities within the framework of Maryland homeowners association law. Read the article……………….
One of the most important jobs of any HOA board is managing community finances. Unfortunately, this is also one of the most underestimated jobs. We’ve seen many boards mismanage the money simply because they didn’t understand basic accounting fundamentals. We know most financial trouble for HOA’s has nothing to do with intentional neglect, but everything to do bad or incomplete financial reporting. Read the article…………………
Serving as a homeowner or community association board president is an honor, a privilege and an experience that many across North America take great satisfaction in. But before you make the leap from resident to board member, it’s key to understand exactly what you’ll be getting yourself into, and we can help. The good news is, the variety of tasks and skills that the position entails certainly keeps the job interesting! Read the article……………..
Your HOA board of directors, as the governing body of your HOA, is responsible for keeping track of the many critical documents that go into the legal and ethical management of your property. There is one problem: over time, regardless of whether it is kept in digital form or stored in physical filing cabinets, all of those documents quickly become unwieldy and hard to handle. You will soon start thinking about whether or not you can get away with cleaning out some of those older documents–but how do you know how long to keep them? Understanding the most important elements of HOA document retention will help your HOA make wiser decisions about your storage. Read the article………………….
Where are the cowboys? A visit to Austin, the state capital of Texas, can be confusing to those who think the Lone Star State is all about Stetson hats and pointy-toed boots. You might find a cowboy or two, but the city has a startup vibe that makes it much more similar to San Francisco. What we don’t know, or what we assume, often determines how we approach new places or responsibilities. It’s why we so strongly recommend to association boards that they must set the context for new members. A successful board views itself as a business. Here’s why you must create a context for them by setting perspective. Read the article………………….
The board chair may be the most peculiar leadership position in any organization. It’s arguably the most powerful role available, heading the group that sets direction and has firing power over the CEO. But the chair wields virtually no control over day-to-day operations and commands a group of people that is routinely replenished with new faces. And you can’t get too comfortable in the job, since you’ll eventually be termed out as well. You’re the boss. But you’re not. Read the article……………….