Creating and maintaining an association budget is part of a board’s fiduciary responsibility. In order to keep your community economically stable, good financial practices are needed to prosper both today and into the future. As fall nears, many associations shift their focus to the upcoming year and begin working on the annual budget process.
Sadly, homeowners associations are sometimes tasked with the responsibility of collecting dues in the aftermath of a unit owner’s death. When an owner dies, leaving his or her unit vacant until its fate is resolved through the legal process, a community’s board of directors faces the challenge of balancing empathy with accountability. But, what happens when a former owner’s successors fail to pay association dues? [Read more…] about Collecting dues from a deceased owner
When it comes to medical marijuana, it’s not what you know but who you know. That’s the best advice experts can give homeowner associations tackling smoking cannabis for medical reasons, according to Joel Meskin, Esq., CIRMS, CCAL, Vice President of Community Association Insurance and Risk Management at McGowan Program Administrators in Fairview Park, Ohio.
[Read more…] about Medical Marijuana Use: Are the Association’s Rules Up in Smoke?