Effective collaboration and communication with your professional team is vital for the smooth administration of a condominium, homeowner (HOA), or townhome community association. From day-to-day management to long-term strategic planning, board members must work with a variety of professionals to maintain the community’s property, finances, and legal compliance. Read the article…………………………….
When Experts Chime In: Can HOAs Afford to Tune Them Out?
An HOA receives an engineer’s report warning that a retaining wall on the property is on the brink of failure. The board, focused on other issues and keeping dues low, decides to put the report on the back burner. After all, the wall looks fine from a distance, right? Fast forward a few months, and […]
Reston neighborhood is first to get EV chargers under county program (VA)
More than a year after it launched, Fairfax County’s program to help neighborhoods introduce communal electric vehicle charging stations has resulted in its first installations. County officials joined residents of the Harpers Square cluster in Reston on Dec. 18 for a ribbon-cutting to celebrate the addition of two EV chargers, making it the first community […]
5 Essential Steps to Rebuilding Your Community After Hurricanes Helene and Milton
In the span of just two weeks, Hurricanes Helene and Milton wreaked havoc and untold damage across the Southeast. Helene struck first, bringing 100+ mph winds and significant flooding to coastal areas. Barely a week later, Milton followed with even greater intensity, packing 120 mph winds, deadly tornadoes, and devastating rain bands that submerged entire […]
How to Choose the Best Condo Association Insurance for Your Community (FL)
Condo insurance can be one of the most important yet confusing aspects of managing your Tampa-based condo association. It can be time-consuming and frustrating to ensure all your association’s needs are met, and a policy is chosen that both provides sufficient coverage and remains within budget. Read the article………………………..
The High Cost of Terrible Service at your HOA or Condo
Have you ever been disappointed with the quality or service of something you have paid for? You aren’t likely to spend your money on that item again. Whether it was poor quality or poor service that caused your disappointment really doesn’t matter. The same is true for your Homeowners Association or condominium. Read the article………………………..
16 months after fire razed Thousand Oaks condo building, frustrated residents await repairs (CA)
Residents of a Thousand Oaks condominium complex are deeply frustrated that 16 months after a fire ravaged a four-unit building there, it has yet to be repaired. “It has become extremely difficult for me and the other residents here,” said Mary Troness, who has lived at the approximately 200-unit Wildwood Township community at the corner […]
2020 Could Make 2021 the Year of Insurance Agency E&O Lawsuits
Insurance agents and brokers should prepare for a big agency errors and omissions (E&O) litigation wave to crash their shores in 2021. Agency E&O claims are a lagging indicator, meaning plaintiffs typically only go after agents and brokers after they exhaust other legal avenues—most often suing insurers—and come up short, according to experts at the […]
Passing the torch: Why succession planning is essential for community association professionals
Do you know what happens to your company once you’re no longer able to work? Have you determined who will take charge after you’re gone? For any business today, the importance of having a succession plan is critical for a company’s long-term success. Read the article…………………………
HO-3 vs HO-6: Do You Know What Type of Homeowners Insurance You Need?
If you are a homeowner in a community association, whether single family, condominium, or townhome, are you certain you have the correct form of insurance? When you own a home in an association, you may be told somewhere along the line that the association is providing insurance. This is probably true. However, as a homeowner, […]
4 Steps to Take When Addressing Property Damage Within Your Association
When disaster strikes your Association, are you prepared? Here are four steps to take when faced with damage to your Association’s property. Read the article…………………
How to get results from insurance carriers (FL)
Q: Our condominium sustained significant damage from Hurricane Irma. It has been a year and our insurance carrier is offering a settlement that is woefully inadequate to address our damages. We have been advised that we have window damage and the roofs must be replaced. The insurance carrier is ignoring our demands. What do we […]
When To Call In The Professionals To Advise Your Board
Common areas of a community are vitally important. Not only do they ensure a better quality of life for residents, they also help the resale value of properties. So it makes sense that two of the most important duties of any community’s volunteer board of directors are to manage the affairs of the association and […]
Filing Insurance Claims: Choosing Wisely Can Save Money
Boards and associations, just like individuals, carry insurance coverage to protect them from liability, loss and other financial and legal problems, although the issues may be a little different than the typical auto or single-family homeowners’ insurance. But deciding when, and if, to file a claim versus paying out of pocket can be conundrum. Read […]
Insuring Winter’s Woes: Dealing with the Problems of Ice Dams
The birds are chirping, the trees are plush and green, and the beaches are lined with people. The record-breaking winter of only a few months ago, when inch after inch of snow piled up in New England, causing trouble for roads, businesses, and private homes—it’s hard to believe it ever happened. Summer months can offer […]
Does Your NC Property Owners Association Need Workers’ Compensation Insurance? Yes!
The North Carolina Workers’ Compensation Act (“Act”) requires all employers with three or more employees to carry workers’ compensation insurance. The purpose of this requirement is to ensure that employees injured by an accident while working have a safety net to cover lost wages and medical expenses. The Act, however, has a very technical definition […]
So You Have an Insurance Claim?
Do the words, “my ceiling’s collapsed” and “water is pouring in” strike fear into your heart? Does the thought of dialing the insurance claim hotline for yet another claim give you a sinking feeling? Well, fear not. Take it from a condo manager who has been through that Read more……..
7 Common Mistakes Made By Agents
As anyone that specializes in associations can tell you, condominium and homeowners associations have many unique issues. The same is true for the insurance they require. These associations are not like any other commercial entity in many ways. It takes an expert in this type of insurance Read more………
HOA Insurance Glossary
Cost of replacing damaged or destroyed property with comparable new property, minus depreciation and obsolescence. For example, a 10-year-old sofa will not be replaced at current full value because of a decade of depreciation Read more…….