Board Training Opportunity – Jan 18, 2023
Sharper Management will present the first in a series of board training opportunities on Wednesday, January 18, 2023, 6 p.m. at the Wells Fargo Plaza, 2nd Floor Training Room at 7900 Xerces Avenue in Bloomington, MN 55431. The 90-minute session will be led by director of business development and education, Josh Reams, CMCA, AMS, PCAM. This session will focus on defining associations and association meetings. Topics include: Association 101 Defining Different Types & Scopes of Associations Types of Association Meetings Understanding Meeting Requirements Tips & Tricks on Effective Board Meetings If you are interested in reserving your spot, please email clientcare@sharpermanagement.com
Successful Sharper Management Board Training
The last Sharper Management Board Training session for 2022 was a tremendous success. Hosted October 26th, Sharper welcomed 40 Board members from 28 different associations, including two new clients and two prospective clients, for a 90-minute session on the timely and complex topics of Insurance and Financials. The session capped off a fantastic 2022 quarterly Board Training year that saw nearly 200 total attendees. Watch for the 2023 training schedule to be announced next month. The first opportunity will be in January.
Board Training – Section II – October 26
The second section in Sharper’s Board Training program is scheduled for Wednesday, October 26th, 6 p.m. at the Wells Fargo Plaza located at 7900 Xerxes Avenue in Bloomington. This free 90-minute session will focus on financials and insurance. Led by Sharper’s director of business development and education, Josh Reams, – and president of Insurance Warehouse, Eric Skarnes – topics will include: Insurance Basics: Defining Policy Types & Coverages Understanding Deductibles Marketplace Update Financial Fundamentals: Setting & Managing Operating Budgets Reserve Fund Requirements Understanding Reserve Studies Basic Financial Reports Audit/Review & Tax Requirements If you are interested in reserving your spot for this free training opportunity, email clientcare@sharpermanagement.com
Board Training-Section I-July 20th
Sharper Management will present the next two-part series of Board Training opportunities on Wednesday, July 20th, 2022, 6 p.m. at the Wells Fargo Plaza, 2nd Floor Training Room at 7900 Xerces Avenue in Bloomington, MN 55431. The 90-minute session will be led by director of business development and education, Josh Reams, CMCA, AMS, PCAM. This session, Section I, will focus on the following topics: Defining Different Types & Scopes of Associations Roles & Responsibilities of the Board Understanding Governing Documents & State Statutes Types of Association Meetings Tips & Tricks on Effective Board Meetings If you are interested in reserving your spot, please email clientcare@sharpermanagement.com Note: Section II on Insurance and Financials will be held on the 19th. Board Orientation for all new clients will be held at the Sharper office on June 22nd.
Board Training Opportunity – Section II – April 20th
The second section in Sharper’s Board Training program is scheduled for Wednesday, April 20th, 6 p.m. at the Wells Fargo Plaza located at 7900 Xerxes Avenue in Bloomington. This free, 90-minute session will focus on financials and insurance. Led by Sharper’s director of business development and education, Josh Reams, and president of Insurance Warehouse, Eric Skarnes, specific topics will include: Insurance Basics: Defining Policy Types & Coverages Understanding Deductibles Marketplace Update Financial Fundamentals: Setting & Managing Operating Budgets Reserve Fund Requirements Understanding Reserve Studies Basic Financial Reports Audit/Review & Tax Requirements If you are interested in reserving your spot for this free training opportunity, email clientcare@sharpermanagement.com
Board Training Opportunity: January 26, 2022
Sharper Management will present the first in a series of Board Training opportunities on Wednesday, January 26, 2022, 6 p.m. at the Wells Fargo Plaza, 2nd Floor Training Room at 7900 Xerces Avenue in Bloomington, MN 55431. The 90-minute session will be led by director of business development and education, Josh Reams, CMCA, AMS, PCAM. This session will focus on the following topics: Defining Different Types & Scopes of Associations Roles & Responsibilities of the Board Understanding Governing Documents & State Statutes Types of Association Meetings Tips & Tricks on Effective Board Meetings If you are interested in reserving your spot, please email clientcare@sharpermanagement.com
Common Board Member Mistakes and How to Avoid Them
Are you a new Board member who is still “getting their feet wet” in the first year of service? Being on your board is a fulfilling role and we’d like to help you with a few tips on some common pitfalls you may encounter on your journey as a new board member. Some of the common mistakes association board members should note: Holding Meetings Improperly All board meetings need to be documented and with notice given to all homeowners. Any time a majority of board members get together and speak about association business, it is considered a board meeting. That may mean a casual lunch date could become a board meeting if you meet the right criteria. Disregard for Governing Documents Sometimes boards do not carefully read the community’s governing documents, and then fail to abide by them. This can happen if a new board is elected and they neglect to review the declaration and bylaws of the association. This is usually unintentional, but it can cause a lot of issues. Every board member should read the bylaws and all other association documents. Making Changes Without Having a Complete Picture Sometimes a new Board will make big decisions without carefully reviewing all circumstances and opinions. One example we’ve seen frequently is changing vendors too quickly. Take time to discuss with as a Board and with your Community Manager to get a clear picture on vendors. Seek Proper Advice Legal advice is sometimes needed when making decisions. Your community manager will be a great sounding board on when you may need an attorney to become involved. Sharper Management holds Board Training Sessions twice a year. Be sure to check this newsletter for dates in January and October each year.
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 it comes to wind and hail storms? The June 2017 and August 2019 storms played a big role in this categorization. What does this mean for you as a Board and for the Association? It means that premiums are on the rise, deductibles are increasing and fewer carriers are staying in or entering the association insurance market. Eric mentioned we can expect increases of 3-5% per quarter in the near term! Deductibles are typically per building (and the per building values are increasing) or based on a percentage of the property value. Typical per building deductibles are $25,000 or more, and the most predominate percentage used is 2%. Since October is Fire Prevention Month, let’s touch a bit on insurance claims due to fire. Luckily, fires are less prevalent and, therefore, not as large of a concern as far as the insurance companies are concerned. While we can expect insurance rates to rise due to cost of living increases, fire coverage is not seeing the same increases as wind and hail. Master policy deductibles for fire claims are typically $5,000 to $10,000 per occurrence, although larger associations occasionally choose higher deductibles. Our next board training, “Board Basics: An Orientation for Board Members”, is Tuesday, January 14th at 6:00 PM.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
Sharper Offers Board Training Opportunities
Sharper Management will present two free Board training opportunities in the coming months. 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” Wells Fargo Plaza, 2nd Floor Training Room at 7900 Xerxes Avenue, Bloomington, MN 55431 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, Director of Business Development, 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 Tuesday, January 14th at 6 p.m. – “Board Basics: An Orientation for Board Members” Bell Plaza office building in Bloomington (3800 American Blvd W) This general orientation session will be led by Sharper’s two directors of community management, Candy Lee, CMCA, AMS, PCAM and Josh Reams, CMCA, AMS, PCAM. 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
Sharper Offers Board Training Session – January 15th
Sharper Management will present a free Board training seminar on Tuesday, January 15, 6 p.m. at the Bell Plaza office building in Bloomington (3800 American Blvd W). All Board members from community associations managed by Sharper are welcome to attend. “Board Basics: An Orientation for Board Members” will be led by Sharper’s two directors of community management, Candy Lee, CMCA, AMS, PCAM and Josh Reams, CMCA, AMS. Topics covered will include: * Defining “Association” * 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