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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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5 Tips for Running an Association Board Meeting

5 Tips for Running an Association Board Meeting

Running an effective homeowner’s association (HOA) board meeting is like mastering the zipper merge. When it’s performed properly, everyone knows what they’re supposed to be doing and it looks effortless. It just takes preparation and some practice to get it right.

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Reserve Study Washington: “The Top Six Components”

Reserve Study Washington: “The Top Six Components”

A reserve study is a budget and disclosure document, supplementing operating & maintenance budgets for the large expenses that don’t occur each year. In this busy world, focusing on a handful of key items in your reserve study may keep you out of costly trouble.

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Plat Maps – A Series For Homeowners Associations

Plat Maps – A Series For Homeowners Associations

As a child I was fascinated by maps. My mom would buy the Thomas Guide every year and I would actually spend hours thumbing through it just for fun (for you young pups out there, the Thomas Guide is what your parents would use to find a Saturday garage sale before GPS was invented). If I had a class in school that involved marking up a map with landmarks, capitols, rivers and mountain ranges, I was confident I’d be acing that project. Dora the Explorer and her map have nothing on me. So how lucky am I, as an adult, to have a job where I can spend time pouring over maps; plat maps that is!

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Housing for Older Persons – FHA Legal Requirements for Condos and HOAs

Housing for Older Persons – FHA Legal Requirements for Condos and HOAs

This article explains the key requirements for communities to maintain their status—and special legal privileges—as “housing for older persons,” which is of greater importance as the population ages.

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Uncollected Assessments: HOA Budgeting for Bad Debt

Uncollected Assessments: HOA Budgeting for Bad Debt

Budgeting for bad debt is something that associations should consider doing even in the best of times. Saying that associations need only budget for uncollected assessments in a down economy would be as shortsighted as… well, not budgeting for uncollected assessments.

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Strategic Planning for Condos and HOAs

Strategic Planning for Condos and HOAs

Strategic planning is a systematic planning process involving a number of steps that identify the current status of the association, including its mission, vision for the future, operating values, needs (strengths, weaknesses, opportunities, and threats), goals, prioritized actions and strategies, action plans, and monitoring plans.1

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HOA Countdown – Top 10 Year-End Financial & Tax Items

HOA Countdown – Top 10 Year-End Financial & Tax Items

The end of the year is approaching and before long we will be setting New Year’s resolutions for 2017. But before that new beginning, we need to wrap up 2016. For associations whose year-end is December 31st, there are financial and tax items that need to be addressed by the board and/or management.

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Chapter Magazine

Journal June 2022

June 2022 Issue

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