As winter comes to an end, associations are beginning to prepare for the warm weather spring and summer will bring. One item on everyone’s preparation list is ensuring the community’s outdoor areas are in tip top shape. We spoke to Aaron Kurdyla, Director of Operations for High Tech Landscapes, who took us through the process.
[Read more…] about Preparing your Community’s Grounds for Spring and Summer
“Breaking up” may be hard to do but when an association is ready to call it quits with its property management company and enter into a new relationship, there are some best practices it should follow. We spoke to Leonard Barber, CPA, CMCA, PCAM, President of Executive Property Management in North Brunswick, New Jersey, who offered some insight on the matter.
[Read more…] about Best Practices for Boards Changing Management Companies
When a homeowner decides to serve his or her association as a member of the board, that person has a fiduciary duty to act in the best interest of the community. So, what exactly does a board’s fiduciary duty entail? According to Attorney Stacey Patterson of Ansell Grimm & Aaron, PC, with offices in White Plains New York, Woodland Park New Jersey and Princeton, New Jersey, “fiduciary duty is the responsibility of the board members to ensure sound and proper operation and control of its community and to act in its best interest.”
As the famous quote says, one thing we can be certain about in life is paying taxes. However, when it comes to the property tax arena, it is possible to reduce the effect this certainty can have on our wallets. Enter the property tax assessment appeals process. This process allows homeowners to appeal the tax assessment that has been placed on their property and potentially lower the amount they have to pay.
[Read more…] about Property Tax Appeals and Community Associations
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Keeping your Fitness Center “Fit” for Use
[Read more…] about Keeping your Fitness Center “Fit” for Use
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FHA Condominium Certification Process
Changes on the Way for FHA Condominium Certification Process
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Preparing a Community’s Grounds for Winter: What Associations Can Do Now
While it’s true that harsh winter weather, snow plows and ice melting chemicals can cause destruction to a community’s grounds, there are a number of steps associations can take to minimize the damage to their properties.
[Read more…] about Preparing a Community’s Grounds for Winter: What Associations Can Do Now
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Association Fees on Owners’ Credit Reports?
Benefits and Pitfalls of New Credit Reporting Capabilities
Late payers beware. Community associations now have the ability to report delinquent assessment fees to Equifax, thanks to a recent agreement the major credit bureau entered into earlier this year with Sperlonga Data & Analytics.
Feature Story
Regulating Holiday Decorations Within Associations
As Halloween approaches, followed by the winter holidays shortly thereafter, associations should ensure that policies regarding holiday decorations are in place for residents to follow. Such rules must be reasonable, and more importantly, legal.
[Read more…] about Regulating Holiday Decorations Within Associations
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Changes on the Way for FHA Condominium Certification Process ?
The Housing Opportunity Through Modernization Act (H.R. 3700) was signed into law on July 29, 2016 with the intention of reforming the Federal Housing Association (FHA) loan program for community associations. The FHA serves to insure mortgages and because of that, it has to be attentive to risk, said Philip Sutcliffe of Project Support Services in Lansdale, Pennsylvania, a company that assists condominium associations with FHA certifications and recertifications. He explained that the FHA’s policy is to insure loans in communities that offer a reasonable expectation that the loans are going to get paid on time.
[Read more…] about Changes on the Way for FHA Condominium Certification Process
