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You may have been noticing an increase in the frequency of plumbing system replacement, at very high costs. Now that a significant portion of the housing stock we serve within Washington Community Associations has reached or is near the 50-year mark of life, expect that trend to continue. But what do you plan for in terms of timing, and cost? Why isn’t total replacement typically in your reserve study?

CASH! Everyone likes cash! Associations are no different. Without enough cash, association management and community property can become neglected, often leading to future major repairs requiring loans and special assessments. Understanding what activities have the most impact on cash balances is vital to the future success of an association’s operations.

This blog, introducing you to balance sheets, is the first in our Reading Financial Statements Series©

What is a Community Association’s strongest hedge against inflation? A strong reserve fund! As of the end of April, 2021, increases in the pricing of lumber, asphalt binder , and other materials have risen well into the double digits when compared to the previous year. Costs for the “Big 9” projects (painting, roofing, asphalt, siding, windows, decks, plumbing, elevators, HVAC) are simply wild and unpredictable right now.

April showers bring May flowers…and sometimes uninsured losses! Building damage caused by heavy rain, clogged gutters and storm drains, accumulated water in a crawl space and any other water that originates OUTSIDE of a building is generally excluded on most policies for several reasons.