Mortgage and Lending - CondoAssociation



It is getting more difficult to get volunteers for filling in the 5 seats as a trustee. We have 4 buildings, 30 units per building, a 55+ community. What would it cost us to hire a firm to take over as trustees? Unfortunately management will not take over as the Trustees or Directors of the Assoc...
Having the HOA insurance or condo association insurance coverage you need in the areas in which you need it is the biggest challenge. The areas most often overlooked or structured improperly include:   1. Deductibles and shifting loss. Although some condo associations have moved to higher deducti...
Loans and Lines of Credit are now available to Condominium Associations (and HOAs) as a great financing alternative to abrupt assessments that often financially squeeze condo owners. Rates for condo association loans are competitive; around 7%, which makes an association loan a very attractive al...
Here are some creative initiatives you can take on with your condo association. Leverage the Condo Association with Direct TV. Maybe your property has a mix of cable and internet providers and can leverage group buying power through the condo association. If properly wired, Direct TV can have all...
Who pays for common area charges and how?  Some condo association members feel they are constantly over-assessed for everything from common area repairs to renovations.  On the other hand, the association often doesn't have enough cash in reserves to cover any of these costs, but feel its in the ...

roger chase

Contact The Author
HOA management and finance topics. For condo assoication board members or those active in their community associations.