This week, the CAM industry looked into the crystal ball to make some predictions. Among them, speculations on what's in store for HOAs in 2017, determining value when selling management companies, recalling boards and the green banana theory. Don't miss it this Week in Community Association Management!
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
“Board recalls don't happen out of the blue. Like Mount St. Helens, they give off warning signs. There's rumbling and venting going on. Disgruntled phone calls, rants at board meetings, terse letters tacked on the door.“ Check out this article for the warning signs, reasons for the uprising and how to prevent it. (or I'll be back!)
Have you ever thought about selling your management company, or buying a new one? How do you know how much the company is worth? In this new series, TOPS Founder, Jeff Hardy will help you figure the value of your management company. But be forewarned. It all starts with a reality check, because your management company may not be worth what you think it is.
If your HOA board is looking for new D&O insurance (or gasp! doesn't have any,) there are some things you need to know. Like, what to look for in a good agent, what questions you need to know the answers to, and what common mistakes you should avoid. Luckily, here is an article that gives it to you!
“When dealing with illegal pets in a no-pet building, time is of the essence. The state Pet Law requires the landlord to begin an action within 90 days of discovering the forbidden pet. As applied to a co-op, it might just as well be 30 days. Although the law says you must begin the action within 90 days, you can’t do that until you have served a notice to cure, followed by a termination notice. Doing that can take from 45 to 60 days.”
Predictions for 2017
“As another new year approaches, community associations face lengthy agendas. Some issues they will grapple with are ongoing, while others are first-time challenges. What's ahead in 2017? Several industry veterans offered their insights” here!
Green Banana Theory
“The “Green Banana Theory” goes something like this: Why should I buy under-ripe bananas for someone else to enjoy since I may not be here when they ripen! In other words, “why should I invest in the community by maintaining or increasing the reserves for the benefit of future owners? Let my estate worry about it!” Tanoa explains how to respond to this kind of homeowner!
This week, you are in for a real treat! Anthony Iannarino, best selling author and keynote speaker at the 2017 CAMfire Conference will be giving a webinar called ME Management. In this webinar, he will show you how to gain more time both personally and professionally to give your work and home life more meaning. Busy CAM professionals cannot afford to miss this groundbreaking webinar! (Best yet - it's completely free!) Sign up now!
*Image credit: Quinn Dombrowski via flickr