Tag Archives: mismanagement

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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WA: Discord in the Pines reaching boiling point

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

Things are heating up in the Nisqually Pines and a small group who opposes the administration is threatening to sue. What they perceive as mismanagement led Pines residents Dawna Hansen-Murray and Tonie Williams to seek a petition to call a vote for removal of the homeowner association’s board of directors.
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