October is Fire Prevention Month
October is Fire Prevention Month. The goal is to raise awareness about fire safety and to help ensure preparation should an emergency occur. In a community association, a fire in one unit impacts more than just that unit. Often times there is smoke and/or water damage to adjacent units – especially in an apartment style condominium building. It’s also that time of year where furnaces are started up for the season and carbon monoxide poisoning becomes a concern. According to First Alert’s website: 3 of every 5 home fire deaths resulted from fires in homes with no working smoke alarms Less than 50% of homeowners have an escape plan Carbon monoxide (CO) is the #1 cause of accidental death 60% of consumers do not test their smoke and CO alarms monthly Only 47% of people report having CO alarms in their home. This month, consider reaching out to your members to discuss fire safety – including testing alarms, changing batteries, upgrading old alarms, and escape planning.
Need Help Renting and Managing a Townhome or Condo?
Think Advantage Home A sister company to Sharper Management, Advantage Home helps homeowners and investors manage their single-family residences. Since your Association is already affiliated with Sharper Management, renting your home through Advantage would have extra benefits you wouldn’t find in another property management company. Those benefits include: A thorough understanding of Associations Information sharing regarding governing documents, rules, and regulations is efficient between Sharper and Advantage Home – Advantage is literally right down the hall The Sharper Management maintenance staff is already familiar with your Association’s property Our emergency response team is fast and effective If you or someone you know is interested in renting their townhome or condominium, have them contact jeff@advantagehomemn.com. Learn more at advantagehomemn.com
Selling Your Property in an HOA
Does the recent cut in mortgage rates have you thinking about selling your home? The lower interest rates make it a great time to be seller with potentially more buyers on the market. While spring and summer are known as the peak times in the market, the housing market doesn’t hibernate when autumn hits. In these less frenzied months, motivated buyers and sellers tend to work toward straightforward, mutually beneficial transactions. If you’re considering selling your home, there are a few things to keep in mind regarding selling in an HOA. A review of the Governing Documents for your Association is a good idea to know what kind of questions may arise during the sales process. If you need an updated copy of your Governing Documents, they are typically available on your Association’s website through Sharper Management. As the seller, you will be required to provide resale disclosure documents about your HOA. These documents contain a wealth of information for a buyer that include things like: * Pending litigation about the association * Up-to-date information about assessments * The Association’s financial status * Covenants and restrictions within the HOA * Any violations about the unit you are selling * Governing documents for the HOA You may request resale disclosures through the Sharper Management website or visit this link directly to learn more go to https://sharpermanagement.condocerts.com/resale/
Location Change for October Board Training
October Session – New Location: Tuesday, October 15th at 6 p.m. – “Financial Fundamentals and Simplifying Insurance” Wells Fargo Plaza, 2nd Floor Training Room at 7900 Xerxes Avenue, Bloomington, MN 55431 The location for the October 15, 2019 Board training session will be held Wells Fargo Plaza, 2nd Floor Training Room at 7900 Xerxes Avenue, Bloomington, MN 55431. If you are a board member and planning to attend, please make note of this change! All Board members from community associations managed by Sharper are welcome to attend. Tuesday, October 15th at 6 p.m. – “Financial Fundamentals and Simplifying Insurance” This focused session coincides with most association’s end-of-fiscal year and insurance renewal seasons. Insurance and financials are always large and complex topics. Led by Sharper’s two directors of community management, Candy Lee, CMCA, AMS, PCAM and Michelle Stephans, in addition to trusted insurance vendor and expert, Eric Skarnes, of Insurance Warehouse, this session will cover topics such as: * Defining Types of Insurance Policies & How they Interact * Insurance Claims & How They are Handled * Market Place Update * Basic Financial Reporting * Understanding Operating Cashflow & Reserve Savings * Budgeting Process & Methods * Replacement Reserve Studies & Requirements January 2020 Session If you are interested in attending a training session, but are not able to make the October session, we will be holding another Board Basics training in January. Tuesday, January 14th at 6 p.m. – “Board Basics: An Orientation for Board Members” This general orientation session will be led by Sharper’s two directors of community management, Candy Lee, CMCA, AMS, PCAM and Michelle Stephans. Topics covered will include: * Defining Types of “Associations” * Roles & Responsibilities of the Board * Financial Fundamentals * An Overview to Governing Documents & State Statutes * How to Run Effective Board Meetings * Insurance Basics * Property Management Practices If you are interested in reserving your spot, please email info@sharpermanagement.com