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  • Seven Essential Financial Best Practices for Your Community Association

    Seven Essential Financial Best Practices for Your Community Association

    Aug 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 Fitness

    Aug 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, 2017
    Staffing 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. 
  • How to More Easily Complete Your Next Association Budget

    Jul 31, 2017

    Budgeting 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! Read on for more advice on how to best complete you next annual association budget. 

  • How Your High-Rise Can Respond and Prepare for Blackouts

    Jul 14, 2017

    Losing power is never fun. But it’s bound to happen at some point, so preparation is the best defense. Obviously, different types of communities are affected by blackouts in different critical ways: high-rises lose their elevators and water; resort-style gated communities lose the ability to operate their gates. For residents, a blackout may be a short-term nuisance. For a community association, it can be a major headache in terms of risk management, safety and potential equipment damage that can provide an unwelcome shock to your budget.

  • Planning for L.E.A.D.S. 2017 is underway

    Jul 14, 2017

    FirstService Residential is proud to announce L.E.A.D.S. 2017 will take place on Wednesday, September 27p at the Convention Hall in Asbury Park, New Jersey. We are excited to report that our biannual event is now taking place annually! Our educational, networking event is focused and shaped on the attributes of Learn, Evolve, Achieve, Deliver, and Succeed.

  • Emergency Preparedness: What You Need to Know, and How Your Property Management Company Can Help

    Jun 29, 2017

    Although you can’t predict emergencies, you can prepare for them. The most important thing that both board members and management can do to ready themselves for the unexpected is to create a customized emergency preparedness plan. A quality community association management company will have the experience, resources and knowledge to help you develop a plan that fits your specific situation.

  • Planning Your High-Rise Maintenance and Capital Improvements

    Jun 15, 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.
  • Is Your Association Covered If a Natural Disaster Strikes?

    Jun 07, 2017
    Mother Nature has quite the surprises to throw at us! Sometimes, there’s some notice and time to prepare. But often, there’s no warning at all. That’s why it is critical to the financial health of your community association that you have the correct insurance coverage in place. What can happen if your high-rise building or community association common areas aren’t properly covered? Unfortunately, nothing good. Association members can also sue the board for not having the correct insurance in place; it’s an important part of your financial responsibility. That's why it is important to make sure your Association is covered with insurance. 
  • The Importance of Preventative Maintenance in Your High-Rise

    Jun 06, 2017
    Protecting your high-rise with a solid preventative maintenance program will also protect the lifestyle you love and your community association’s budget. Preventative maintenance programs have countless benefits, including extending the life of almost every component and system in your building. A well-executed plan can also help your community optimize its operating budget by predicting when repairs or replacements are most likely to be needed and allowing your community to set aside money for them. How can you get started on a preventative maintenance plan? Check out our advice to get your high-rise on the right track when it comes to preventative maintenance.