Winter is fast approaching and you may be wondering how your association is going to pay its bills if there is another bad winter. Your delinquencies may be up and you see no hope in collecting all the money that is due. Then the delinquent homeowner who was paying files bankruptcy. Your frustration turns toGo to Resource
Newsletters
Introduction Assessments are the life blood of community associations. The Board of Directors has a fiduciary duty to collect assessments from owners. If the Board of Directors fails to fulfill its fiduciary responsibility to ensure assessments are received from all owners in a timely manner, it will in many instances be unable to carry outGo to Resource
Now that the economy is officially in a recession, there are a number of ways that an association can prepare for the inevitable increase in delinquent assessments so that the impact on association revenue is minimized. The following are steps every board should consider taking. Adopt a formal collection policy. Adopting a formal collection policyGo to Resource
Unacceptable Behavior The condominium association’s board of directors has just approved a large special assessment to finance the replacement of an aging heating and cooling system, and owners are not pleased, to say the least. But the decision infuriates one owner in particular. He shouts obscenities at the board during the meeting and continues toGo to Resource
Community association managers and board members are often troubled by how ill-prepared new members are for community life. New members who are inexperienced about life in community associations may have a hard time adjusting and may cause a variety of legal problems. Educating them might be your best defense. Many new members come from aGo to Resource