Here's a quick rundown of all of the happenings in the CAM industry in this week's CAM Mashup!
Know Your Policies
Let's play a quick game: Late last year, I hired a roofer to come out and repair what should have been a very minor leak. Within 24 hours of his work, my ceiling had completely collapsed in the middle of a storm that blew through that day. Who thinks my Homeowners Insurance covered that cost?
If any of you said, "No," you're officially smarter than I am and I'll be calling on all of you for future major life decisions.
All this to say that insurance, homeowner's or otherwise, isn't always going to have your back when you expect them to, and it's important to keep that in mind and prepare for the worst. One HOA had to learn that the hard way when it was discovered that their insurance policy didn't cover earth movements or mudslides...after both had already happened.
Of course this is also important in cases involving condos, too. Interconnected units create a larger chance of those units impacting one another, and in those cases, it's fair for unit owners to know why they might be responsible for damages they didn't directly contribute to, and why the HOA's insurance policy (or the HOA as a whole) isn't more liable.
Regulation is Important but Let's Keep Our Heads On
Drones are one of those technological advancements that no one really saw coming to the consumer-level market, and that niche industries like the CAM industry ever really considered as being a topic worth addressing. And yet, here we are. Drones are so wildly capable nowadays that they're basically hand-held spy devices that you can put anywhere with ease. So it makes sense that more and more communities are banning the usage of drones. They pose a threat to privacy and confidential information if they have recording capabilities. How does your association handle the newfound drone landscape?
Then you have pets, which are often one of the most heavily regulated aspects of a community association. Nevada wants to reign that in a little bit. Lawmakers in Nevada are looking to pass legislation that will make it easier for future homeowners in community associations to own animals--furry, feathered, scaled, or otherwise. Sometimes, like with drones, regulation is important. But other times, we run the risk of overextending our reach. Where do you fall on the pet debate? Let em all in, or keep em all out?
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, or email email@example.com and share a link to your news with us for inclusion in the next mash-up!
About the CAM Mash-up: 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!