Rental Management Program
Tracking rental properties within an Association has long been a challenge to both Management and to the Board. “Managing” those Owners that choose to rent by ensuring they abide by any policies the Association might have regarding renting is even harder. It goes beyond the scope of the Management Agreement, and certainly adds further burden […]
The Importance of Loss Assessment Coverage
Insurance in an Association can be confusing. One important distinction in your personal homeowner policy package (commonly called an “HO6” policy) is Loss Assessment Coverage. This coverage is typically different from your “Real Property Coverage.” Real Property Coverage should cover your personal contents, coverage of building construction items like flooring and walls that may NOT […]
Communication is Key: Forging Stronger Communities through Effective HOA Communication
The Foundation of Community Harmony Effective communication lies at the heart of a thriving Homeowners Association (HOA). In this blog post, we will delve into the critical role of clear and transparent communication within an HOA, exploring why it is the foundation for building stronger, more harmonious communities. The Significance of Clear Communication in HOAs […]
Selling in your HOA
Thinking of selling your home? Now is the time! Real estate is hot, hot, hot. The current shortage of homes for sale stems back to Spring of 2020, as COVID-19 hit just before selling season. There is still very limited inventory, but there are plenty of buyers. Because the demand is so high and the […]
Summer Noise, Courtesy, and Your HOA’s Rules
Summer is filled with friends, family, fun, and, unfortunately, noise. People are outside later at night in the season of graduation and block parties, and the noise only escalates surrounding the 4th of July with sounds of fireworks. It’s important to be courteous to your neighbors; as the old saying goes, treat others the way […]
HOA Insurance Policies
For residents and HOA board members, there seems to be a lot of lingo when it comes to insurance. How do you know which policies cover which property? How do you know what insurance requirements to make when managing an association? We’ve explained the “walls out” and “walls in” policies to help you understand what […]
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 […]
Vendor Checklist
When selecting a vendor or contractor, it is critical to use due diligence and have a process in place for making these selections. By having a thorough process, you will satisfy your obligation as a board member while also protecting from potential liability. When evaluating vendors or contractors for selection, there are some key pointers […]
Operations and Personal Protection Continue During COVID
As the pandemic continues, most people have adjusted to the “new normal” that is affecting everyone in the community association industry, the associations, and the owners. While we may be exhausted by the restrictions and repercussions of the coronavirus, we need to remain cognizant of actions needed to prevent the spread. There are several areas […]
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 […]