Is your Condo or HOA ready for the next recession

Condos and HOAs in the time of Virus and Recession

3 Lessons We Can Learn From the Past These are not the best of times, and maybe they are not the worst of times, but most certainly they are difficult times. Our health and prosperity are in harm’s way and our residences are on the line. For those of us who live in community associations (Condos & HOAs) these times are reminiscent of the great real estate meltdown of 2008. In those days boards of directors, management companies, and even banks were caught by surprise and chaos resulted. Have we forgotten the experience of high delinquency rates, and the cash flow crisis that resulted from the last crisis? Did we… Read More

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Watson and Axela perfect together

New Strategic Partnership to Help Recover Delinquent Funds for Florida Community Associations

Axela Technologies and Watson Association Management announce a strategic partnership to provide innovative collections solutions for Community Associations in FloridaPRESS RELEASE  UPDATED: MAR 4, 2020 09:00 EST MIAMI, March 4, 2020 (Newswire.com) –​Axela Technologies, a specialized collections firm servicing the community association industry, announced today that it has entered into a partnership with Watson Association Management, a division of Watson Realty Corporation. With over 50 offices throughout Florida, Watson is one of the largest and fastest-growing management companies in Florida. By integrating the Axela collections platform with their existing accounting software, Watson community association managers will be able to take advantage of a completely transparent and robust collections process that is easy… Read More

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managing expections

Managing condo owners’ expectations

Condo owners need to respect boundaries and understand when board directors are “on duty” as a director and when they are “off duty” and being an owner. Let me create a scenario. It’s a Saturday afternoon and you’re out for a walk with your dog. You see a neighbor walking towards you and as he approaches, he begins discussing a recent decision the condo board has made. You are enjoying being outside and do not want to talk shop with an owner and answer his questions. This is a clear example of an owner not respecting boundaries. Nor is it appropriate that a director discusses a decision made by the… Read More

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Important Potential Tort Liabilities for HOAs to Understand

HOAs have historically thought that they were exempt from liability from their residents. What HOAs and residents need to understand is that there are certain legal theories that HOAs can be potentially held liable. Depending on the state where the community is located and the CC&Rs of the HOA, there are many potential areas where HOAs can be liable to their residents for damages. In order for HOAs to fully protect themselves, it is vital that they carefully review their agreements and determine what areas need to be revised or improved upon. If your HOA is looking to shield itself from further liability with residents, it is important to have… Read More

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Social Media vs. Relationships with Neighbors

Social Media vs. Relationships with Neighbors: Why Your HOA Must Know the Difference

Why Knowing Your Neighbors Is Rare Today In the United States, it used to be common to know your neighbors on your street or in your apartment building. In fact, your neighbors often stayed in the same home for longer periods of time, which made it possible for lifelong friendships in neighborhoods to form. Today, the Internet has greatly changed how we interact with others and the increase of airplane travel has made many families have the opportunity to move more frequently than they did in the past. Due to the limited in person interactions and prominence of digital conference calls, chatrooms, and social media platforms, the way neighbors communicate… Read More

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5 Risks of Self-Managed Community Associations

Self-managed community associations typically avoid professional management companies because of the cost. However, these associations have to ask themselves, “is the liability worth the risk?” As financial and legal responsibilities increase, so too do the risks associated with self-managed community associations. The Risky Business of Being a Self-Managed Community Association The majority of self-managed community associations are run by volunteer board members who typically work full-time jobs, don’t have the time to properly run a community effectively, and lack the industry experience needed to mitigate common risks. With this in mind, the five most common risks associated with self-managed community associations include: Meeting Minutes Compliance: Meeting minutes must be recorded,… Read More

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5 Ways Community Association Managers Can Thrive in a New Year

Now is the perfect time to align your team to prepare for what’s ahead. You may have aggressive goals in the new year to acquire new associations, expand your team, increase profitability, or all of the above. No matter the goal, you’ve also got the added challenge of staying competitive and, hopefully, a step or two ahead of the pack. Here are five ways to ensure you stay on track and turn your vision into reality. 1.) Keep Yourself and Your Team Informed The community association industry is rapidly evolving – are you keeping tabs on the trends and getting this information to those on your team or in the… Read More

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remote manageement versus full service

The Problem with Current HOA Management

HOA Management, like every other industry, has its ups and downs. Successfully managing an association brings people together, connecting homeowners with each other to develop that sense of community. On the other hand, failing to meet that standard can divide a community. Homeowners become angry with their board members and board members become angry with their management company. How do you fix this issue?  There are a few options; give your current management company one more chance, self-manage your HOA, or switch to another company. Unfortunately, one more chance means you are given a little more attention, but only for a short duration. Then it’s back to the old way… Read More

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