Tag Archives: adequate

Reserve Studies Minimize Liability

These days it seems that boards are being barraged by many issues that weren’t even considered only a few years ago.  Lawsuits and claims of financial mismanagement are taking place on a daily basis.  They are at best a nuisance, and at worst very costly and stressful. 

Over the years, homeowners have volunteered to serve on the board because they had expertise and skills from professional careers that were applicable to the association.  Examples include attorneys, accountants, and engineers.  Boards were comprised of people with these skills as well as other owners who were simply concerned about protecting their most important investment – their home.  This approach generally worked well in the early years of the association industry.  Today, however, community associations are required to be managed more like a business. One example of this is the need to plan for future capital repairs with an adequate reserve fund. 

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CT: Condo Tenants Say They Lack Heat

News items of national interest regarding Condominium and Homeowner associations, compiled by the Community Associations Network

Subfreezing temperatures have gripped the state and many residents at Gateway Estates in East Hartford said their complaints about a lack of adequate heat are falling on deaf ears.
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