What Should My Board Look for in a Community Association Management Company?Oct 30, 2017
The risks of not knowing what to look for in a management company are myriad: if you aren’t clear on what you want and need, a company cannot meet those needs. You can get stuck with management that you don’t really want, and no one wants that.
What Are the Qualities of an Effective Board Treasurer?Aug 18, 2017
The board members of your community association serve many important leadership functions. Although they may have diverse backgrounds and skill sets, they are all committed to the common goal of bettering your community association, taking actions that ensure its financial health, enhancing property values and improving the lifestyles of the residents.
Seven Essential Financial Best Practices for Your Community AssociationAug 11, 2017
Community associations can be wonderful. They have amenities that otherwise might not be so close to home, like a community pool, fitness center, golf course or riding trails. Being part of a managed community often means having shared interests with your neighbors, imparting a sense of community that isn’t easy to achieve in an ever-transient world. It means that everyone abides by the same high aesthetic standards. But none of that happens without stable finances, including a balanced budget and a well-funded reserve.
Five Steps You Can Take to Maintain Your HOA’s Financial FitnessAug 11, 2017
The principles to fiscal fitness and physical fitness aren’t that different: Don’t overindulge. Make smart choices. Keeping your community association’s finances healthy requires care and exercising good judgment. Follow our tips to help you do that.
Is Your Community Staffed Adequately?Aug 10, 2017Staffing your community association is both an art and a science. Your community’s culture and lifestyle are supported by the staff you choose, and it’s important to make sure that you’ve got the right people in the right positions, and enough of them. Properly staffing your community goes far beyond having people to answer the phone and handle packages or keep the pool clean and tidy.
Easy Steps to Help Complete Your Next Association Budget
Easy Steps to Help Complete Your Next Association BudgetAug 01, 2017Budgeting can be tough. It involves looking at priorities and the needs and wants of your community, the money coming in and going out and making it all balance. Crafting a responsible, effective budget is one of the primary ways that community association board members fulfill their fiduciary responsibilities to the community. Planning ahead and knowing what’s expected will help make the process painless and smooth!
Emergency Preparedness: What You Need to Know, and How Your Property Management Company Can Help
Emergency Preparedness: What You Need to Know, and How Your Property Management Company Can HelpJun 27, 2017Emergencies are a fact of life. Having a comprehensive emergency plan in place can mean the difference between an emergency situation that escalates into a crisis and one that is resolved efficiently and effectively. What can you do to prepare?
How Should You Enable Board Member Succession?Jun 23, 2017
Thriving business organizations plan for succession. It’s built into their corporate strategy – team members with potential are identified early on, and then groomed for the leadership positions they’ll someday hold.
Six Essential Tips For New HOA Board Members
Six Essential Tips For New HOA Board MembersJun 19, 2017
Congratulations are in order – you’ve just been elected to the board. So now the big question: What’s next? “The great thing about associations that are helmed by owners is that they have a vested interest in doing right by their community,” said Kirk Kowieski, CMCA, AMS, vice president of FirstService Residential. “But that also comes with challenges...many board members find themselves in this kind of position for the first time, so there’s a little bit of a learning curve.” Fortunately, FirstService Residential is here to help. Follow these new board member basics and you’ll soon be governing like a pro.
Planning Your High-Rise Maintenance and Capital ImprovementsJun 08, 2017
Maybe this has happened to your high-rise association: An unexpected capital expense finds your condominium’s board of directors needing to impose a special assessment. Establishing a plan for your building’s maintenance and capital improvements is not only important for your budget. It can also prevent life-threatening catastrophes. So what does it take to put together a program that protects both the health of your association’s finances and the safety and lifestyle of your residents? Find out in our interview with Phil Pool, vice president at FirstService Residential.