Condominiums That Fail To Properly Fund Reserves Will Usually Resort to Costly Special Assessments

Budget, Communication, Community, Community Manager, Law, Payments, Property Managers, Renters, Residents

Question: My condominium association has no reserve funds for our roof. Every year at the annual meeting, the board asks the owners to waive the reserve funding and every year the owners vote to waive the reserves. Now we need a new roof for the building and the board...

A Simple Way to Plan Your Nest Egg

Budget

Ever wonder how much money you’ll need to preserve your lifestyle during retirement? Many financial professionals use a benchmark of 70 percent to 100 percent of your current income to maintain your lifestyle during your non-working retirement years. For...

Condo Residents: Demand Show Me the Money

Budget, Communication

The image of Cuba Gooding, Jr. as Rod Tidwell screaming at Tom Cruise as the titular character in the 1996 movie “Jerry McGuire” is a powerful cinematic moment that launched the catchphrase, “Show Me The Money”! All these later, I barely remember the movie but the...

5 Inexpensive and Creative Ways to Market Your Community

Budget, Community, Community Manager, Connect, Property Managers, Residents

If you’re looking for ways to market on a tight budget, here are some simple ways to stretch your marketing dollar. Whether it’s for resident retention, or to create more prospects for your community, we’ve got you covered! Use Four-Legged Friends to your Advantage...

What’s the Difference between Delinquency and Delinquent See

Budget, Community

Over the past few years, I have been advocating that community associations add a new line item to their budgets – Delinquency. Did you heed my advice? Did you help protect your community from facing new financial consequences by preparing for the inevitable...

Tell Everyone How You Maintain, Protect and Enhance

Board of Directors, Budget, Community, Community Manager

Maintain – Protect – Enhance. This is the prime directive for Boards of Directors of Homeowner Associations across the country. By maintaining, protecting, and enhancing the assets of the association, the Board ensures that property values are maximized and owners’...