CORRECTED: HOAleader.com - Tip of the Week - October 18, 2008
Published: Sat, 10/18/08
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A link was incorrect in the originally sent version of this
week's tip. The link has been corrected in the version below.
Please accept our apologies for this error.
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HOA Finances: Can You Save Money By Becoming More of a DIY HOA?
In this extremely challenging economy, one way your homeowners
association might be able to save money is to find ways to stop
paying others to do work that you can do in house. Becoming more
"do it yourself" (or "DIY") can definitely save money -- but
there are pitfalls to consider.
Do you use a management company? Is it possible to go without
that expense and manage the HOA yourself?
(Alternately, if you are self-managed, would a professional
manager save you money by watching your expenses, leveraging
their aggregated buying power with vendors, etc.? For help
making the managed vs. self-managed decision, see our article:
http://www.hoaleader.com/public/148.cfm)
Do you have landscaping that could be done by the gung-ho
gardeners who live in your association? Even if you don't do
away with professional landscape maintenance contractors
completely, maybe you can reduce what you pay them to do.
Do you have other homeowners in your association who can provide
services for free or at reduced cost? Some good prospects might
be insurance professionals and accountants, but don't stop your
search there. Get creative and open the question up to your
owners.
But don't forget that there are potential pitfalls if you
actually pay homeowners to do work for the HOA. Get more info
on this here:
http://www.hoaleader.com/members/128.cfm
Finally, discover 3 additional tips tips on how your HOA can
trim your budget:
http://www.hoaleader.com/members/135.cfm
Best regards,
Matt Humphrey
President
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Recent articles posted at HOAleader.com:
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State Law Survey: What's New and Important for HOAs?
Effective Date of Smoking Law Looms ... Florida Tightens Condo
Regs ... Illinois Condo Laws Under Review ... Age Restrictions
Imposed
Click here to read full article:
< http://www.hoaleader.com/members/176.cfm >
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HOA Fees: Divorcing Spouses Point Fingers Over Who Should Pay--
Leaving HOAs Stuck in the Middle
When owners in your homeowner associations divorce, their
headaches may become yours. That's because too often, your
association is left holding the bag on assessments as divorcing
spouses argue over which spouse is responsible for making
payments to the association. Don't get tangled into their dispute-
-we'll tell you how.
Click here to read full article:
< http://www.hoaleader.com/members/175.cfm >
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HOA Efforts to Restrict Homeowners' "Green" Efforts May Hit
Roadblocks
Colorado Gov. Bill Ritter signed legislation this year
prohibiting condo and homeowners associations from restricting
owners' efforts to install alternative energy generation devices,
such as solar panels. California Gov. Arnold Schwarzenegger
signed similar legislation this summer. Both moves were prompted
by battles in HOAs over the value of improved energy efficiency
when weighed against what some consider the unsightly equipment
necessary to achieve the improvements.
Click here to read full article:
< http://www.hoaleader.com/members/174.cfm >
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HOA Boards: Recruiting and Grooming New HOA Board Members
This week we look at one of the best ways to recruit good board
members. Here are 3 keys to smart recruiting.
Click here to read full article:
< http://www.hoaleader.com/public/173.cfm >
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HOA Governance: Get the Most Out of Your Homeowners Association
Committees
The joke among legislators is that when they want an issue to die
a slow, quiet death, they send it to a committee for review. But
committees can actually serve a useful purpose at your homeowners
association. When can HOA committees be helpful? How should you
choose their members? And how should you oversee them? Here's the
skinny.
Click here to read full article:
< http://www.hoaleader.com/members/172.cfm >
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