Posted by AmberPM on October 21, 2011 · Leave a Comment
In order to operate a successful community association, foundation community, or development community there are many important facets of association governance that must be understood and implemented by its board of directors. One of the most important is the budgeting process. See: Six Steps To Create And Manage A Budget if you are looking for help on … Continue reading →
Filed under Budget · Tagged with Amber Property Management, Association's Treasurer, board, budget, budget preparation tips, Condo, CPA, developer budgets, financial statements, fiscal year, Governing Documents, HOA, Homeowner Association, operating cost manual, operating cost manual for homeowner associations, Orange County Property Management, Property Management, Property Manager, Reserve Study, Single Family Home, Townhome, treasurer
Posted by AmberPM on July 11, 2011 · Leave a Comment
You don’t want to make reserve-fund contributions that are too little, which may lead your co-op board or condo association toward borrowing, making a special assessment or even incurring the higher costs that come with deferred maintenance. But you shouldn’t put away too much, either. As a professional engineer and the president of a company … Continue reading →
Filed under Board of Directors, Budget, Community Manager, Learning Tools, Q & A · Tagged with acutal replacement, Amber Property Management, balance sheet, baseline-funding, board of directors, Cash Flow, defer projects, double budgeting, ongoing maintenance, operating budget, Orange County Property Management, Property Management, remaining useful life, replacement costs, reserve - funding, reserve contributions, Reserve Study, reseve funding, Responsibility, special assessment, useful life
Posted by AmberPM on May 13, 2011 · Leave a Comment
Assessments are a necessity for common interest developments to conduct business. Simply put, without the assessments, the community cannot operate. Assessments, commonly improperly referred to as dues, are generally collected on a monthly basis by either a monthly billing reminder or a coupon book provided by the community’s management company. These amounts vary from community … Continue reading →
Filed under Board of Directors, Learning Tools, Maintenance, Q & A · Tagged with Amber Property Management, assess, billing, budgeting, business, common interest, condominiums, department of real estate, fiscal responsibility, maintain reserves, operating expenses, Orange County Property Management, planned unit development, proper budgeting, Property Management, reserve, Reserve Study, special assessment
Posted by AmberPM on May 4, 2011 · 4 Comments
JUSTIFIED EXPENDITURES Q. Can the board of directors of our association spend association funds on what amounts to a political issue? The board wants to spend funds to stop a nearby development, based on the belief that it will harm the value of homes in our community. A. Absent a prohibition in the … Continue reading →
Filed under Board of Directors, Bylaws, CC&R Enforcement, Civil Code, Collections, Davis Stirling Act, Learning Tools, Legislative, Maintenance, Q & A, Rules · Tagged with Amber Property Management, annual meeting, Association, Bylaws, California State Law, Civil Code, collecting delinquent assessments, Contractors, Directors and Officers, disclosure, Eligibility, Governing Documents, Homeowner Association, Liability, litigation, Maintenance Responsibility, Minutes, Negligence, non owner directors, Orance County Property Management, Property Management, Recall, Recusal by Board Member, Reserve Study, Responsibility, Right to Privacy, Self Managed Association, Special meetings, Townhome, tree removal, Voting
Posted by AmberPM on April 25, 2011 · Leave a Comment
Every homeowner association should exercise a plan to repair and replace major common area components like roofs, siding, and decks. Healthy reserves are critical to a healthy association because: Buyers examine the Reserves before buying Lenders examine the Reserves before approving a loan The board has a fiduciary responsibility to protect the association from financial … Continue reading →
Filed under CC&R Enforcement · Tagged with Amber Property Management, Association, Civil Code, common elements, Finance, healthy reserves, Life Expectancy, limited common elements, Maintenance, Orance County Property Management, Property Management, Replacement cost, Reserve Balance, Reserve Fund, Reserve Study