Whether your community needs to borrow money to pay for a roof replacement or installation of a swimming pool, it is imperative to know all the requirements and limitations your community has before starting the process. Therefore, the first step an association should take prior to applying for a loan is reaching out to itsGo to Resource
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At some point, most boards will experience a homeowner not paying assessments. Sometimes it’s just one, and sometimes it’s several homeowners, but regardless, this can be an uncomfortable situation for the board. Even though the delinquent homeowners are your neighbors, making sure that all homeowners pay their assessments and taking action when they don’t isGo to Resource
Advances in technology have resulted in increased quality and simplistic installation for camera systems at reduced pricing. As a result, camera systems continue to gain popularity, and the use of cameras in homeowner associations is becoming ever more common. However, the installation and use of these systems also have the potential to create liability. ThisGo to Resource
ONE: Your Reserve Fund Is Your Friend. Don’t Ignore It. It used to be that I would periodically field questions on financial problems due to inadequate reserves. Today, I am constantly preparing special assessment letters, reviewing loan documents, drafting reserve study policies, and generally advising on all questions related to associations experiencing financial crisis. Why?Go to Resource
In a world of COVID-19, virtual meetings, and tensions still running high in many associations, members are more eager than ever to participate in the democratic process of the association. With the increased desire of members to participate, and in conjunction with virtual meetings, comes the inevitable questions of how do proxies work, when areGo to Resource