Do Associations Need Cyber Insurance? To learn more about cyber insurance, we spoke with Gregg V. Gerelli, graduate of the College of Insurance and President of Gerelli Insurance Agency, Inc. in Cold Spring, New York. Cyber security is an often overlooked but increasingly essential part of community associations. Every association should develop their own strategy …
Cyber Insurance According to Robert E. Barlow, Jr., CMCA, AMS, PCAM, CIRMS, of NFP Insurance in Easton, Pennsylvania, most commercial property and liability insurance policies exclude coverage for cyber security related losses. “Cyber security threats pose a significant financial threat to all associations, and, without having the proper coverage in place, an association could be …
Property maintenance Property maintenance is one of the most important responsibilities community association managers and board members must assume. 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, it is critical …
Association Property Maintenance — Working With a Building Contractor Read More »
How are the elements of a community defined? 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 …
Delinquent homeowners 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 …
Association’s 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 can use as a reference for future projects or possible evidence in a lawsuit or audit. Records are useful …
Board Member Elections Cultivating, nominating and electing board members 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 volunteer due to …
The Declaration 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? How does one even know if their property is a part of an …
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 victims of theft …
Collection of Delinquent Dues Delinquent homeowners can affect a community in a variety of negative ways. Obviously, the association needs homeowner dues to be paid, preferably on time, in order to operate. However, there are many residual, undesirable consequences of having too many delinquent ac- counts. A community with an abundance of homeowners in arrears …