While insuring your association against potential catastrophes can be a daunting proposition for a board made up of volunteers, it’s a crucial part of the job. Fortunately, there are delineated starting points, ample resources, and industry…
By its very definition, insurance coverage is planned protection against both the expected and the unexpected. Life insurance clearly provides financial security in the event of death, which of course is an eventual certainty. But at the sa…
Insurance is cyclical; there are hard markets and soft markets, and insurance companies typically make money in two ways: underwriting profit, and investment income. When the market is soft, insurance companies are looking for market share,…
Economists often say that markets love consistency. So do condos and HOAs – and they share that preference for stability with another important group: insurance companies. Residential communities seek to keep their costs stable, and insuran…
Running a community association can be – and often is – stressful enough without the added issue of people in a position of power in the community using that position for personal gain in the form of kickbacks. Whether the offender is a sup…
Co-op, condo and HOA communities are a property manager’s bread and butter. Ensuring that their client buildings and associations run smoothly everyday provides managers with both purpose and pay. Therefore, it stands to reason that a dedi…
Community associations are microcosms of democracy, run by an elected board of volunteers trusted to make good decisions on behalf of the community as a whole. Boards make the call on every large and small issue for their constituency. So i…
The board of a condominium, cooperative, or homeowners’ association literally exists to serve, and to represent residents’ best interests in the day-to-day business of the association. The relationship between the owner/shareholder and the …
One of the unique things that sets co-op, condo and HOA living apart from living in a single-family home, or even a rental, is the buyer’s choice to live in a community-within-a-community. By purchasing a unit in a particular building or de…
There’s an old adage that ‘insurance is for pessimists’ – but that’s very much not the case. In the world of home ownership, and especially in shared communities, proper insurance is a critical factor in protecting not only your most import…