Sharper Mourns the Passing of Matt Froehlich, Partner and COO
It is with the deepest regret that Sharper Management shares news of the untimely passing of our friend, Matt Froehlich. Matt and his family were traveling in rural Wisconsin when they were involved in a two-car accident on Saturday, June 26th. We continue to pray for his wife, Jillian, who is currently hospitalized with her injuries. Their two children, who were with them at the time of the accident, were not injured. After a stint playing professional hockey in Europe, Matt began his career in the real estate industry specializing in the investment sales of multi-family properties in Minnesota. The vision Matt set for Sharper Management was to make it one of the best places to work in the Twin Cities. His commitment to staff development and company growth helped to position Sharper as one of the top HOA management companies in the area. “Matt was my best friend and business partner for the past 12 years.He will be deeply missed by me and the entire staff at Sharper Management. We continue to pray for his wife and their two young children,” states Sharper CEO and Partner, Dan Cunningham. At this time, services for Matt are yet to be announced. Sharper Management may be reached by calling 952-224-4777 or email to info@sharpermanagement.com.
Loss Assessments
In the Midwest, we’re all too familiar with summer storms and the damage they can cause to houses and buildings. HOA reserve funds are available for unexpected damages or emergencies, but using them could cause the association to be short on funds for future projects and non-insurance related repairs. Understanding how your insurance policies work can make claims and repairs a much smoother process. With heavier storms, sometimes the master policy isn’t enough to cover damages. Unit owners may need to help pay for repairs for damages to shared buildings, such as shingles being torn off a condo roof. The master policy can only pay up to coverage limits, so it’s up to the homeowners to pay the rest. The amount owed is assessed by the association, and as an owner, it is your responsibility to pay your share. However, needing to pay for community damages doesn’t mean you’re paying out of pocket. It’s a good idea as a homeowner to get Loss Assessment Insurance under your HO6 policy, if not already required. In addition to property damage, this coverage helps to pay for injuries on the premises, liabilities, and deductibles under the master policy. Homeowners who have appropriate coverage under their HO6 policy can submit a claim to their insurer. As a member of the HOA board, consider making it a requirement for owners to have loss assessment coverage to avoid any collection problems, as these assessment costs can often exceed $10,000 per unit. Boards should also work with their HOA management company to make sure that they are navigating these issues correctly. Insurance claims and loss assessments can seem confusing, but Sharper Management is here to help guide you through those difficult times.
Sharper Scramble
We are excited to announce that the Sharper Scramble will once again take place in 2021. The event is scheduled for Friday, July 30, 2021. It will take place at Boulder Pointe Golf Club in Elko. The shotgun start is scheduled for 9:00 a.m. It is a wonderful opportunity to celebrate our business relationship together. To register, email matt@sharpermanagement.com