Vendor Contracts, Finding Vendors and Tips for Condos and HOAs

Finding qualified contractors for renovation work (and writing the vendor contracts) takes planning and an awareness of contractors that specialize in working with homeowners associations. This isn’t just a marketing ploy. Working with the board, the extra paperwork and long timelines associated with HOAs takes a special breed of contractor. Most don’t have the patience, professionalism or interest to meet the challenge. To them, your HOA is just another notch in their belt. To you, it’s your all ...

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What is a Reserve Study? What is a Reserve Fund?

 REPRINTED FROM   – Richard L Thompson  – Regenesis   The Oregonian

Ask The Expert – What is a Reserve Study?

The reserve study analyzes major repair and replacement needs like roofing and painting and provides a funding plan for accumulating money to perform this work when its needed. It is a fundamental planning tool that all homeowner associations need.

There are several parts to the reserve study: First, all major association maintained components are identified. Next, the cost to renovate each ...

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Community Collections – Have a Policy

Prior to the economic downturn that began in 2008, there were many portfolio managers, who managed associations that had never experienced the financially crippling effects of numerous delinquencies. Because they were so rare and infrequent, there was a tendency toward leniency and inconsistency, and legal action was rare.

But when your neighbors cannot pay their association dues, the balance radically shifts and those who can pay must pay extra just to keep the grass mowed, refuse removed and roofs ...

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