eCigarettes, year-end, recovery, social media reviews, vendor relations and fidelity insurance. It all happened this week in community association management! Please enjoy!
As an educated member of the Community Association Management industry, you already know how crucial it is to stay informed and up-to-date on the latest news, trends and happenings within the industry. Each week, we bring together our favorite reads of the week and share them with you! Enjoy the CAM Mash Up and feel free to share it too!
E-Cigs and HOA’s
With the increasing popularity of e-cigarettes, it is only natural that HOAs now need to consider where they stand on the issue. When they first became popular, e-cigarettes were advertised as a ‘healthy’ alternative to smoking. While they are probably less harmful than the traditional cigarette, there is new evidence that suggests that they may not be as harmless as we once thought. Where does your community stand when it comes to smoking e-cigarettes in common areas?
“Unlike retailers, who are basking in the slowdown after the madness that is Holiday shopping, Community Association Management professionals are just getting started. The busiest time of the year is upon our industry - the dreaded YEAR END.” Lucky for you, this article has some great ways to help you keep your sanity during all the craziness. Enjoy!
Real Estate Recovery
“It was recently announced that the FHA, which has historically been the go-to mortgage option for borrowers with limited down payments and credit, is planning to reduce its mortgage insurance premium from 1.35% of a loan's value per year to 0.85%.” Hopefully it will “give the U.S. real estate recovery, which slowed down in 2014, a big kick-start in 2015.”
No PR is Bad PR
It is bound to happen at some point or another. Even the very best businesses with the most stellar customer service are sooner or later going to be faced with and angry client who releases their frustration on social media. It’s how you, as the business owner, handle it that makes all the difference.
Trust But Verify
This next article offers up some great advice for the next time you hire a vendor or professional advisor. Do your research beforehand just to verify they have the experience and credentials that they claim to have. “If a vendor claims to have represented neighboring communities, ask for contact information for those communities and follow up with them for referrals.”
Protect Your Community
Is your association covered for catastrophes like theft and fraud? If not, it's time to look into fidelity insurance. To learn all about what it is, why it's so critical and how much you need, check out this article. (Note, it's not enough to just have it through your management company!)
Do You Have Big News This Week?
If you've got big news that would be relevant to other CAM professionals, please share it with us in the comments below