Community association boards can take steps to improve their chances of securing better premiums by using some simple yet practical insurance bidding strategies. During a recent CAI webinar, insurance professionals outlined several relatively easy steps boards can take to save money and protect homeowners’ investments when seeking insurance policy renewals in a hard market.
Community associations develop and nurture many partnerships over the years, but seasoned professionals and volunteers say the relationship between an association and its management company is arguably the most significant.
Governance in community associations is complex, with many potential blind spots that can lead to serious financial, legal, and operational challenges. Some of the most common yet often overlooked governance pitfalls include understanding roles, respecting the hierarchy of the documents, and failing to adhere to communication and meeting protocols.
New community association board members often need to hit the ground running, but it’s also incredibly important to set aside time to understand the inner workings of the association. When new board members become familiar with the players, governing documents, budget, reserve study, and more, they can confidently guide the community and fulfill their responsibilities.
Community associations create stable, well-managed neighborhoods where families invest, connect, and thrive. A Florida legislator’s recent call to ban homeowners associations is, respectfully, a solution in search of a problem and would cause needless disruption for millions of Floridians.
