What Repairs are the HOA’s Responsibility?
In condo buildings and communities, it is generally accepted that the HOA is responsible for damage and maintenance outside the unit. At the same time, the homeowner takes care of the inside or any area under their exclusive control. But are there exceptions? And what repairs and maintenance fall into ...
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12 Ways to Increase HOA Revenue to Offset Mounting Expenses
As costs for maintenance, insurance, and other essential services continue to rise, many HOAs are challenged to increase cash flow and put a little extra into reserve funding – ideally without being forced to raise fees. Assessments can sometimes be issued to cover ad-hoc expenses, but these can be an ...
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HOA Insurance Coverage Update: What You Need to Know
Obtaining HOA insurance at a decent rate has been challenging in recent years. With big insurers like Allstate and State Farm discontinuing new policies and rates for existing policies skyrocketing exponentially, many HOAs are finding the need to add assessments and increase fees to cover the additional expense. State of ...
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Security and Guard Services for HOAs
Security is paramount. Home ought to be the ultimate safe place. Buyers and potential tenants prioritize properties that have active security programs in place. While there are many ways to secure a building, security guard services are among the most effective. An on-site security guard is a deterrent and offers ...
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Condo Insurance Premiums Are Skyrocketing. What Gives?
If you own a condominium or are part of an HOA in California, you’ve likely been shocked by skyrocketing insurance premiums. In some cases, carriers have decided to drop residential insurance entirely, leaving new home buyers, condo owners, and HOAs in a financial jam. Citing inflation, rising construction costs, wildfires, ...
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The Difference Between Operating Funds and Reserve Funds
Homeowners Association Boards (HOAs) have a fiduciary responsibility to make decisions that are in the best interests of their homeowners. They act on behalf of the association, must put the community’s needs first, and always act in good faith. Operating funds and reserve funds are equally crucial to the community’s ...
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Streamlining Property Management: The Benefits of Artificial Intelligence
As we enter a new era of technology, the possibilities that artificial intelligence (AI) brings are virtually endless. Lately, we’ve heard a lot about AI in the media with the widespread adoption of AI tools like ChatGPT, but in reality, we all use it every day and have done so ...
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11 Tips HOA Boards Can Leverage to Increase Condo Property Values
HOA board members are acutely aware of the value their organization adds to the condo property and its residents. The decisions they make are directly related to the success of the community and have a significant impact on property values. From maintaining amenities and infrastructure to setting rules that enforce ...
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Installing EV Chargers at Condos and Apartments in California
Charging your electric vehicle (EV) at home is convenient—but it also requires special equipment to ensure expedience and cost efficiency. But what if you live in an apartment or condo? If there aren’t charging stations already available at your building, it’s something you’ll need to consider. While using public charging ...
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Benefits of Solar Panels for Commercial Properties or HOAs
If you own a commercial building or are part of an HOA, you may have considered the value of converting to solar power. Solar energy is clean, renewable, and comes with significant benefits as you can reduce your carbon footprint, increase property values, increase the value of individual units within ...
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What Landlords and Property Owners Should Include in Rental Agreements
Rental agreements and lease documents are essential components of the landlord-tenant relationship. They are legal, binding contracts that set out rights, responsibilities, and exclusions on behalf of both parties, spelling out all the pertinent details in ways that are both understandable and enforceable in a court of law. That being ...
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Top 13 Neighborhoods for Renters in Los Angeles
Los Angeles is a great place to live and work. People come to LA from all over the country to launch careers in the entertainment industry, to escape the cold, or for any other number of reasons. But as vast and sprawling as the city is, how do you choose ...
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