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What Do Experts Say about Maintaining HOA Common Area Assets? {Video Series}
What Your Board Needs to Know about Open Meeting Laws
September 18, 2018
Five Tips for Organizing an HOA Event They’ll Want to Attend
October 4, 2018“When your neighborhood monument needs to be repaired or replaced, or the community pool needs to be re-surfaced, you don’t plan the budget for these projects the year before. You need to plan years in advance for all of the common assets.”
– William K.
Board members understand the benefits and value of maintaining community assets. They also know the negative impact deferring required maintenance can have on property values and community morale. Here are a few things to consider for association asset maintenance:
- Does your board have a Reserve Study? If so, when was the last time it was reviewed or updated?
- Has your association provided adequate funding to properly maintain the commonly owned assets?
- What about a maintenance program extending the life-cycle of community assets, potentially saving the HOA thousands of dollars?
- Can your HOA’s funds be liquidated quickly, and without penalty, in the event of an emergency?
To find out the answer to these questions and many more, board members are encouraged to view the 3 part video series on Asset Management and Reserve Funding. (Scroll down to view videos below.)
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CMA Management
37 Years of Community. Well Served. (www.cmamanagement.com)
Headquartered in Plano, Texas, CMA has three regional offices and numerous onsite locations providing contract management services for more than 250 residential and commercial communities, and more than 97,000 individual units.
Residential Communities
•Town Home Communities
•Master Planned Communities
•Active Adult Communities
•Commercial Associations