Fiduciary Duty 101
As a member of your HOA’s board, you have many of duties. The most important of them is fiduciary duty. Fiduciary duty requires board members to stay objective, unselfish, responsible, honest, trustworthy, and efficient. Board members, as stewards of public trust, must always act for the good of the organization, rather than for the benefit […]
Maintaining Community Ties During COVID-19
With everyone spending time more time at home and distanced from others, has your HOA been affected? As we navigate our way through COVID-19, it’s important to foster connectivity in your association. Holding events over Zoom is a great way to connect with people and do different activities. For example, you can play bingo, have […]
Reserve Funds and the Unexpected
2020 has been full of unexpected trials. Planning for Murphy’s Law is part of an HOA board’s responsibility. Make sure your HOA is covered for the unexpected by having an adequate reserve fund. What is a reserve fund? A reserve (capital) fund is your HOA’s saving account; it is not used for the day-to-day necessities […]
Summer Storms – Staying Safe
As we enter storm season, we want to give you a few useful tips to keep in mind. General Storm Tips: Avoid wires and water. If your building is struck by lightning, avoid touching water and wires as they can conduct the voltage. Even touching a plugged-in lamp or getting tap water can result […]
Reminders on Storm Restoration Insurance Claims
Now that you’ve checked your governing documents to see what the board is responsible for when a storm hits and leaves damage, what’s the next step? One of the board members should go around the grounds for an initial inspection to see what you might need repairs on, and they should document all of it […]
Storm Safety and Your Association
As we get closer to storm season and the threat of damaging weather, it’s important to review your policies on exterior damage caused by natural events. Typically, the governing documents will dictate protocol for those situations and the role of the board vs. members. Most instances will require the board to be responsible for any […]
Pets and Living in an HOA
Sunshine and getting outside for a walk are things we are all doing more of these days and that includes our pets. Just a few friendly reminders to be sure to pick up after your pets during this season. As more people are out walking due to the closure of many local gyms, it’s more […]
Spring Is Coming…And So Is the Home Selling Season
Selling Your HOA Property If 2020 begins your moving journey, there’s a few things to take care of as you prepare your property for sale. Staging First of all, staging your townhome or condo is an important part of the process; this helps potential buyers visualize themselves and their unique style in the space. Prepare […]
Pets, Winter and HOA Living
We still have a couple more months of winter to go, which means a lot of us will choose to stay inside where it’s warm and cozy. For those who have kids or pets, this also means a little extra work so that cabin fever doesn’t set in and cause disturbances. Similarly, if a resident […]
October Board Training Was a Success
Thank you to all those who attended our Fall Board Training on October 15. It was a great success. The topic was Insurance and Financial Basics. Eric Skarnes from Insurance Warehouse presented some great information on various insurance policies, coverages and market trends. Did you know that Minnesota is now considered a “catastrophic state” when […]