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The Importance of D&O Insurance Coverage

The Importance of D&O Insurance Coverage

If a homeowner’s association is new, and has just formed a board of directors, one of the first orders of business should be to purchase Directors and Officers Insurance. It is also important, for those considering serving on a board of directors in well established communities, to make sure that D & O Insurance is…

Budget Time!

Budget Time!

Budget Time! 2011 budget planning season is upon us. HOA Boards need to be anticipating the challenge of successful budget preparation in a tough economy when many homeonwers are out of work and foreclosures are at an all time high. Good advice is to start the planning early and be prepared to trim expenses whenever possible so you…

How Do I Run a Successful Open Board Meeting?

How Do I Run a Successful Open Board Meeting?

Community Board Meetings can be challenging in terms of overcoming logistics. As always, the key is time invested in preparation and organization. Please consider the “professional meeting skill tips” provided below that might assist your Community in conducting a successful Open Meeting . SETUP Seat all your Board members at a head table. The table should be…

HOA and American Rights

HOA and American Rights

In recent months, and years for that matter, some communities have found that they face a troubling issue when it comes to HOA rules. Everyone receives a copy of the Deed Restrictions when they move into a HOA community, but that doesn’t seem to settle the legal issues regarding residents and their ability to freely…

Your Community Welcome Mat

Your Community Welcome Mat

You may have a “welcome mat” at your home. It communicates to household members and visitors alike that they are welcome and promotes a sense of belonging that they should feel comfortable being there.   In the same way, your association web site should be considered as the virtual “welcome mat” to your community.  It needs…

Committees and how they can help your community!

Committees and how they can help your community!

Committees add so much to the welfare of any HOA. It is important for each HOA to create only those committees that are needed, but the participation of residents on committees can serve as a positive contribution to the Board of Directors and engage more residents in the process of uniting all residents in the…

Does our homeowners association pay taxes?

Does our homeowners association pay taxes?

What a good question, because almost everyone in the homeowners association and those in the industry always ask the same question. Unfortunately there are many forms of taxes and lots of regulations that make that a rather complicated answer. For federal tax purposes, homeowners associations are treated as corporations.  Even if an HOA was created…

Board Minutes – The Basics to Include

Board Minutes – The Basics to Include

Good minutes of the board of directors meeting can take a variety of styles, and levels of detail. But there are certain “key ingredients” that all minutes should have, in order to provide an intelligible history of the organization’s activities, and serve as an effective tool for managing the organization going forward. Date, time, location…

Keys To Becoming An Effective Board Member

Keys To Becoming An Effective Board Member

“Having never served on a board before, the excitement of being appointed / elected was a rush. After mentally moving fast forward through an imaginary career that starts on this board and somehow ends with a ticker – tape parade in my honor, I snapped back to reality. They didn’t say ‘join’ the board, they…

Managing Condominium Conversion Projects

Managing Condominium Conversion Projects

By:   Katherine M. Wolfe, CMCA, AMS, PCAM District Manager, EBMC – Las Vegas, NV According to Wikipedia, an Internet based encyclopedia, a condominium conversion is defined as “a process of entitling an income property, often seeking approvals from both state and local authorities, in order to convert from sole ownership of the entire multi unit…

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