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Why a Leak Log Is Essential for Community Management

Why a Leak Log Is Essential for Community Management

WHEN CONDOMINIUM BOARD MEMBERS & COMMUNITY ASSOCIATION MANAGERS move on, they often take vital institutional knowledge with them. That’s why it’s essential to keep a running record of maintenance incidents, including pipe leaks.

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Why Do I Need A Snow & Ice Contract In Puget Sound?

Why Do I Need A Snow & Ice Contract In Puget Sound?

MANY HOA AND CONDO BOARDS ask themselves every year if they need a snow contract? After all this is Seattle, it will melt off by noon. Let’s look at a few issues before deciding. There are 1 million slip and fall claims every year, in the US. The average slip and fall claim is $48,000. What is your association liable for? Are you insured for this?

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Tips To Help Avoid HOA Fraud

Tips To Help Avoid HOA Fraud

COMMUNITY ASSOCIATIONS and their management companies are not immune from online and email fraud attempts and scams. The good news: There are steps you can take to help avoid common fraud tactics and better protect yourself and your communities. We’ve compiled some scams to watch for and tips to help avoid them.

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Preparing Your Community Associations

Preparing Your Community Associations

THERE ARE MANY laws and regulations in Washington State that community associations should be aware of and prepared to address. Common area safety and electric vehicle charging are two examples that we elaborate on below.

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Managing Rising Construction Costs For Your Upcoming Projects

Managing Rising Construction Costs For Your Upcoming Projects

EVERYONE IS EXPERIENCING HIGHER COSTS of fuel, food and other necessary, everyday items. You’ve done all the right things including setting aside funds for current and future projects, but prices are coming in higher than expected. What are your options and what steps can you take to mitigate rising construction costs?

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Four Reserve Rules

Four Reserve Rules

THERE ARE FOUR RULES OF RESERVES that associations should know. Our company has pioneered foundational concepts & principles and provided extensive educational materials to the industry for over 35 years, but all can be distilled down to the rules below as the heart of planning for reserve projects at your association. Fundamental education is key to all of our success, as board members and professionals come and go over time.

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Efficient Audits

Efficient Audits

ASSOCIATIONS WITH DECEMBER 31ST YEAR ENDS make up a large share of annual audits. There is often intense pressure on managers, accounting departments and audit firms to complete accurate and complete audits in a timely fashion. Completing an efficient audit requires strong communication and sharing of information.

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Reserves & Inflation

Reserves & Inflation

THE CONSUMER PRICE INDEX IS at a 40-year high of ~ 7% as of this writing. As we all know, that’s a big deal. Our data and research show inflation of the goods and services relating to the typical association reserve components (roof, paint, siding, windows, decks..) to have been compounding ~25% annually since 2020 – that’s a Really Big Deal.

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Chapter Magazine

wa-community-associations-journal-sep2022-archive

Sept 2022 Issue

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