The TradeMark Condominium, a 28-story, high-rise community evokes a warm, inviting, and family-like atmosphere that belies its location and exterior. Together, the management, leadership, and residents of TradeMark have created and nurtured an excellent example of what a community association strives to be.
Quite recently, two of the largest residential property insurance companies announced major cutbacks in California, and many HOAs are now experiencing skyrocketing property insurance rates. Here are some tips to simplify your property insurance with a “bare walls” approach.
CAI is proud to announce it has surpassed the 45,000-member milestone while celebrating the organization’s 50th anniversary. CAI has added 2,000 members over the past year. This month, 827 new members joined the organization, and more than 80% of members renewed. CAI has grown by 10,000 members since 2018.
Community associations are familiar with the challenges associated with long-term home rentals and have become well acquainted with short-term rentals over the past few years, but a new trend in the sharing economy has been making waves recently: rentals for residential components such as swimming pools.
More than 90% of respondents in a recent survey conducted by the Foundation for Community Association Research reported that their property and casualty insurance premium had increased at the last or current renewal with 24% citing an increase between $101 and $500, and 14% citing a larger increase. Eleven percent of respondents indicated that their property and casualty coverage was canceled or not renewed.
