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3 Facts About HOA Insurance Coverage Most Minnesota Boards Misunderstand
Jul 17, 2018Being a board member means you have a fiduciary responsibility to your homeowners association (HOA). In part, protecting the association’s interests means ensuring that you find insurance that provides the most coverage at the lowest price. However, understanding the complexities of HOA insurance isn’t easy. Chances are that your board finds it downright confusing to know what kind of coverage your HOA needs and how each type of policy works. -
What Are Reserves, Why Are They Important and How Minnesota Associations Should Budget for Them
What is a Reserve Study?: What They Are & Why They Are Important
May 21, 2018Reserve components are association maintained major property components with a determinate useful life. The analysis of the reserve components results in accurate and supportable annual reserve fund contributions. -
Row of pink piggy banks
3 Ways your Homeowners Association Can Fund Capital Improvements
May 15, 2018Sooner or later, every homeowners association (HOA) or condominium association has to invest in capital improvements. Whether that means installing a new heating and cooling system in your high-rise building, replacing the roof on your clubhouse or upgrading the equipment in your fitness center, you can’t overlook these long-term, big-ticket items. But what’s the best way for your association to pay for them?
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Red, blue and metal tools
Managing Your HOA’s Maintenance and Improvement Projects
Apr 27, 2018Keeping your property maintained and making needed improvements are important aspects of your homeowners association’s financial health. To manage these crucial responsibilities effectively, you need to stay on top of day-to-day projects, as well as create and adhere to a long-range plan. What does it take to make those goals a reality?
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Community members sitting in a hall, looking up and smiling at an out-of-frame speaker, actively engaged
Tips For Generating Community Engagement In Your HOA
Mar 19, 2018What makes a community a great place to live? A lot goes into it, but it’s no secret that often depends on community engagement. -
3 HOA volunteers sitting at a table, facing forward and smiling
The Six Secrets to Building Your HOA’s Volunteer Pool
Feb 15, 2018Whether you’re on the board of a single-family homeowners association (HOA) or a high-rise condo association, your community depends on volunteers to operate successfully. However, finding residents who are willing to be on your board of directors, join a committee or help at an event can be challenging. -
4 male HOA board members sitting at a cluttered table conversing loosely
Does Your HOA Have A Plan For Fostering A Sense Of Community?
Jan 18, 2018Humans are social creatures with a deep-seated yearning for connection and community. This is particularly evident in an HOA, where a strong sense of community can be the difference between long-standing residency and high turnover. -
Maintenance worker in dark blue jumpsuit holding clipboard and pencil while looking down at it
Demystifying Maintenance and Repair Roles for Residents in Your HOA
Dec 20, 2017How well do homeowners in your community association understand maintenance responsibilities? pYou might think that responsibilities for maintenance, repairs and replacements would be straightforward enough – what’s inside the condo unit is the homeowner’s, and what’s outside is the association’s.
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Protecting Your Community Association from Fraud & Embezzlement
Protecting Your Community Association from Fraud & Embezzlement
Sep 29, 2017It’s only natural for someone living in a condominium or homeowner association to assume you can trust your property management company to safeguard your financial wellbeing. And at FirstService Residential, we take that trust to heart. -
True Financial Stability
True Financial Stability
Sep 26, 2017A strong, healthy association requires every facet of property management to work in sync toward one common goal...true financial stability.