Tag Archives: 2011

If You Fail to Plan, You Plan To Fail

“If You Fail to Plan, You Plan To Fail”

You may have heard the saying, “If you fail to plan, you plan to fail”. This statement especially applies to community associations because of the high levels of knowledge and expertise required to perform the required duties of the association. Board and committee members volunteer their personal time to serve the association, and management tools are imperative to meet the goals of the community as expeditiously and productively as possible. An annual operating plan will assist in accomplishing these goals.

An annual operating plan for the coming year is a schedule of events and responsibilities that defines and describes actions to be completed in order to accomplish the goals and objectives. The operating plan ensures that all involved know what needs to be completed, defines the timeline for actions and allows for monitoring as well as a proactive approach to managing the community.

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The Mortgage Muddle

The Federal Housing Administration (FHA) in December 2010 began enforcing new rules on condominium lending, easing some of the tougher provisions that were first proposed. But the new rules still require careful inspection by condominium associations and unit owners as well as potential buyers. 

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