The community association management industry this week went all topsy turvy on it's head as banks supported superliens, management companies demand a divorce and credit scores apply to delinquent homeowners! It's not opposite day, it's 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 and share them with you! Enjoy the CAM Mash Up and please share it too!
Superlien Battle Hits Mass
Everyone has been looking west to Nevada on the superlien front, but perhaps we should have been looking east. A recent skirmish has taken place in Massachusetts that sets a precedent. 5 community banks wrote an amicus brief supporting super priority liens in a recent case in Massachusetts. Although large banks and the FHFA continue to oppose superliens for community associations, it's heartening to know that some banks see the real issue - that super liens protect the remaining homeowners in the associations, and it turns out the court did too - siding with the condo in this case.
I want a divorce!
It can feel like a marriage - the relationship between the board and the management company. Each side makes compromises, and tries to work together for the sake of the children (the homeowners.) But what about when things just don't work out? Let's explore some of the situations that may call for the management company to file for a divorce from the Board...
Solar Panels and Your HOA
People are become increasingly aware of the financial and environmental benefits of installing solar panels on their homes. However, not all HOA’s are keen on the idea. There are many factors that need to be considered before you take the plunge. Read up on them here!
Client testimonials are crucial to selling your products and services to new prospects. We are much more trusting of what other people have to say about you than what you have to say about yourself. So how do you go about collecting these client testimonials? Great tips found here!
“HOAs tend to generate a great deal of paperwork. Whether its statements, receipts, invoices, or the minutes from previous meetings, there’s a lot being written down and filed away. And here’s hoping that your HOA has already made the switch to virtual paperwork to remain eco-friendly. If not, there’s no time like the present.”
Assessments and Your Credit Score
We all know the ways in which we can put our credit score in danger (e.g., You better not forget to make your monthly credit card payment!) However, until very recently a homeowner’s credit is not effected by late/delinquent assessments. Which to me just sounds like a crazy concept. Those days are just about over! See here!
Stuck in a Rut
“There is so much more we could be talking about as an industry. If we are tired of bad stereotypes in the media, let's give them something else that is both interesting and relevant to talk about! I am here before you today because I am looking for new material. I want to know what it is that nobody is talking about that you wish they were. What are your unanswered questions? What are your secret fears? What are the elephants in the room? What is the one thing you wish you knew but are too embarrassed to ask?” Help us to get a new conversation rolling by filling out this survey.
*Image credit: Marufish via flickr