Winter Tips
Since winter seems to lingering a bit this March, we thought it would be a good time to post some helpful winter tips for association owners. Living in an association, with shared walls, makes it particularly important to properly care for your home during the cold winter months. If you plan to be away this […]
Loss Assessment Coverage
There’s no doubt that understanding insurance coverage in an Association can be confusing. One important distinction in your personal homeowner policy (commonly called an HO6 policy) is Loss Assessment coverage. Depending on the carrier, this coverage may be different from your real property coverage. Real property coverage should cover your personal contents, coverage of building […]
Resale Disclosures: What Are They & Why They’re Needed
If you are selling your townhome or condo that is legally platted within a registered Association, you are required by Minnesota state law to provide a Resale Disclosure Package to the potential buyer. This package consists of a number of items including: Copies of the Governing Documents (Articles of Incorporation, Declarations, Bylaws, Rules, recorded Amendments, […]
The Basics of the Board
When you buy into an Association, the first thing to understand is you are now living in what is commonly referred to as a planned community. A big part of understanding this concept is realizing there needs to be governance of said community, as well as business orchestration of the community as a registered non-profit […]
The Ever-Changing HOA Insurance Market
If you have seen your association’s master insurance premium increase in recent years, know that you are not alone. The insurance market for multi-unit dwellings (i.e. condos and townhomes) continues to be volatile. According to Marsh & McLennan, for the past eight years Minnesota has ranked in the top three for “catastrophic losses.” Hail storms […]
Limited Common Elements vs Common Elements
It is important to understand the difference between Limited Common Elements vs Common Elements. And please note that these will vary significantly by association and how the Governing Documents define and treat them. A Common Element is typically a space or component that is “shared” by all. Popular examples include roadways, parking lots, condo building […]
Brianna Samuels Joins Sharper Management as Portfolio Community Manager
Sharper Management is pleased to welcome Brianna Samuels to the Sharper Management team in the role of Portfolio Community Manager. She will be working with properties in the Twin Cities Area. Samuels’ extensive knowledge in property management, resident and vendor relations, as wells as her experience in contract negotiations makes her a valued asset to […]
Board Tips: Make Your Meeting Matter
In previous issues we’ve discussed the importance of a strong meeting facilitator; we’ve suggested agenda formats to create better meeting efficiency; and recently we wrote on the principle that meetings should be regulated to making decisions. There’s no denying that we live in a culture of meetings. In this issue’s Board Tips, we offer one […]
Christopher Gosse Joins Sharper Management as Portfolio Community Manager
Sharper Management is pleased to welcome Christopher Gosse to the staff as a Portfolio Community Manager. Gosse will assist in managing properties in the Twin Cities Metro Area. Gosse’s well rounded experience in virtually all areas of property management makes him an excellent addition to the Sharper Management team. In his 8+ years in the […]
Association Funds – Operating vs Reserve
Since most associations are on a calendar fiscal year, your Board of Directors and Management have been working hard on setting the 2016 Operating Budget. This budget sets your “dues” – so we thought it would be a timely opportunity to explain the difference between the “operating budget” and funds vs the “replacement reserve” schedule […]