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Tag Archives: security

Lean Times May Call for Loans

If your homeowner association has maintenance or repairs it must do today, along with a limited budget, it may be time to consider a loan. Here are tips for making sure you get members’ approval and good loan terms before you sign on the dotted line.

1) Find a lender who knows homeowners associations. “You have to shop around,” says Edward Taylor, the principal at the Law Office of Edward M. Taylor in Smithtown, N.Y., who’s also president of the Community Association Institute’s Long Island chapter. “You can’t just go to the bank you do business with or the one where your association’s president personally banks. Some banks don’t know what they’re doing and how to handle a loan to a common-interest association. Other banks have very specific and developed programs for associations, and those programs vary from one lender to another.”

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CO: HOA Files: HOA internal controls

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

“The difference between a pickpocket and a robber baron is mostly a matter of opportunity” (Anonymous). With adequate prevention and protection measures, mistakes will be reduced and improper activities discouraged. According to a Best Practices report on Community Security, published by the Foundation for Community Association Research, the board has a legal obligation in the exercise of its management powers to:
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