The Annual Meeting a Productive and Effective Get Together

There are those who think the best thing about annual meetings is that they happen just once a year. There is the planning and preparation. And what if no one comes? But, in fact, this is probably the most important event for condominium owners to attend. It is an opportunity for them to . . . to read more of this article from Toyan Copeland, PCAM, The Copeland Group, click here.

Preventive Maintenance for Common-Interest Communities

The basic goal of preventive maintenance involves noticing small problems and correcting them before major ones can develop. This attention to detail can create an intangible effect of well-being for residents and visitors alike, regardless of the age or style of the complex. Further, a well-maintained property reduces . . . to read more of this article from Ken White, AIA, RS, Construction Decisions, click here.

Bad Debt: Planning for Uncollected Assessments

For the past 35 years, Lake Superior State University publishes a list of "banished" words and phrases. The annual list includes words and phrases that are misused, over-used, and generally useless. The 2010 list includes such gems as "sexting," "tweet," "app," and "too big to fail." Also included on the 2010 list is probably the most overused phrase . . . to read more of this article from William Justyk, Law Office of James L. Strichartz,
click here.

Budgeting

Once again it is everyone's favorite time of year . . . budget preparation time. The purpose of this article is to provide a brief overview of the most common budgeting approaches. A budget is more than just revenue and expenses balanced to a net zero. A budget should be viewed as an Association's operating plan for the umcoming year. There are two basic approaches to . . . to read more of this article from Sergey Petrov, Yalnes, Inc. click here.

Reserve Funding: Known Unknowns

The benefits of a reserve study have been well documented and universally accepted. Reserve studies highlight the scope of predictable repair and replacement an association will face over a redefined period, providing not only a road map of anticipated costs but a clear plan as to how to navigate and prepare for them. However in spite of its acceptance as a good means of management and financial planning, a reserve study must also be . . . to read more of this article from Stuart Wilkinson, RS, Reserve Study Group, click here.

The Intangibles of Insurance & Risk Management Budgeting

Each year an association's board of directors is entrusted with budgeting for the upcoming fiscal year. This would typically be spearheaded by the management firm, if one is retained, and would be predicated on historical information, known increases in pricing of goods and services, and other factors material to your specific needs. One this is for sure, if you are a condominium association, invariably the . . . to read more of this article from Duncan Kirk, CIRMS, The Unity Group, click here.