Association Accounting & Budgets When it comes to the association’s finances, how can boards be assured they’re handling things properly? Where should the board begin when creating budgets? What are the reporting requirements and rules for handling association funds? What are the proper accounting methods? How can an association be assured they don’t be- come …
The Association’s Pavement — Preventative Maintenance & Repairs Paved surfaces make up a large portion of homeowners associations’ assets, from sidewalks to parking lots to driveways and roadways. These paved surfaces are a large portion of the land real estate of an association and, therefore, they are crucial to maintain. Because of this, key questions …
What are reserves, and why do associations need to have them? In order to answer these questions, and provide other important details on this topic, we spoke with John P. Poehlmann, RS, a principal from the Milwaukee, Wisconsin office of Reserve Advisors, Inc., a company specializing in reserve studies, serving clients in all 50 states …
What are the warning signs, issues and repair of masonry issues? What are the warning signs of masonry issues? What steps can be taken for preventative maintenance of association masonry? What goes into the repair process? What should an association look for from their masonry restoration contractor? We spoke with Chuck McCrimmon, President of Dakota …
Masonry — Preventative Maintenance, Restoration & Tuck Pointing Read More »
Covenants, Conditions and Restrictions How are the elements of a community defined? What determines the components of the common areas versus homeowner-owned areas? Where is it written that certain elements are the responsibility of the homeowner and others are the responsibility of the association? These issues and others are established in what’s commonly called an …
Delinquent homeowners can affect a community in a variety of negative ways. Obviously, an association needs assessments to be paid, preferably on time, in order to operate. There are many undesirable consequences of having too many delinquent homes and/or unpaid assessments. A community with an abundance of homeowners in arrears could be declined for a …
Records Knowing which association records should be kept, where to keep them, and how to store them can help an association maintain access to important historical data. Association records should contain information that the board of managers can use as a reference for future projects or possible evidence in a lawsuit or audit. Records are …
Elections Cultivating, nominating and electing members of a particular board of managers is something that should always be on the minds of current board members. Politics in any arena can be tricky, but in associations it can also sometimes be difficult to find people willing to serve. Many people feel unqualified or even afraid to …
The FHA Violations of the United States Fair Housing Act (FHA) can result in severe penalties for associations. Knowing how to govern your community responsibly in this regard is highly important. What is a common sense approach to staying in compliance with the FHA? According to attorney David J. Byrne, there generally are two subsets …
Aspects While there are many aspects of managing a community association, perhaps the most important one is maintaining its physical components. Keeping the association’s physical components up to date and free of flaws not only ensures the safety of its residents, but maintains the value of the community and each unit as well. Given this, …