Manager Liability

Experience has proven that a manager who takes the effort to avoid the five practices listed below benefits both from reduced liability and the increased professionalism that he/she exhibits in dealing with boards, vendors, and developers. 1.    Do not exceed documented authority to act The contract between the manager and the association and the minutes/resolutionGo to Resource

Hold Harmless Clauses In Management Agreements

Traditionally, most management agreements contain a provision known as a “hold harmless” clause.  Such clause generally indemnifies and holds harmless a manager from claims arising from situations he or she did not cause or were forced to participate in by virtue of his or her subservient role as agent of the association.  Hold harmless clausesGo to Resource

The Consumer Price Index and Assessments

Introduction Associations are generally formed to perform many tasks on behalf of the owners within the common interest community.  In order to perform these tasks, there must be sufficient monies.  Thus, a funding mechanism is provided through the levying of assessments.  The declaration for a community generally contains a provision addressing how the yearly assessmentGo to Resource

Reserve Funds 101

There has been much ado about reserve studies, reserve funds and investment of reserves in the last few years, fueled largely by changes in Colorado law related to reserves.  It is no wonder board members and managers often have a lot of questions about what is required and what is prudent.  This article is designedGo to Resource

The Prudent Investor Rule

  In community associations, the collection of assessments is the primary source of revenue for the operation and maintenance of the community.  Boards of Directors, with excess capital not currently allocated or needed in the immediate future, are turning to investment and financial planning as a means of maximizing these fixed, limited resources.  Putting idleGo to Resource
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