Community associations in California are staring at skyrocketing insurance premiums. Some are facing increases of as much as hundreds of thousands of dollars per year. Community finances are being strained and, in some cases, it’s become impossible for new buyers to secure mortgage lending.
Managers who earn CAI’s Association Management Specialist (AMS) designation demonstrate a higher level of commitment to their career and the community association industry. Kimberly Anne Mosey, CMCA, AMS, a community association manager with KC Property Services in Huntington Woods, Mich., recently became the 11,000th person to earn the AMS designation.
As property insurance rates are somewhat stabilizing in 2022, umbrella liability rates continue rising for common interest communities. New challenges are emerging in the insurance landscape, and it is imperative for board members and community managers to partner with credentialed and experienced professionals who will guide them through this social inflation crisis and will help them mitigate liability claims.
We’ve longed believed the best communities have knowledgeable governing boards, highly engaged residents, and educated and trained professional managers. HOAresources.com allows us to support these individuals.
A nice lawn requires time, money, and plenty of water—not to mention pesticides, herbicides, and chemical fertilizers. During a historic drought, many community associations are pulling up grass and installing more sustainable landscaping.