HOAleader.com - Tip of the Week - January 25, 2013
Published: Fri, 01/25/13
=================================================================
New HOA Assessment-Comparison Tool: Cool! But Proceed with Caution
=================================================================
In this week's tip, we reveal a new tool to help you and
potential buyers compare your HOA's assessment levels with those
of nearby associations. At the same time, we advise caution.
In Miami, the average assessment at the 500-plus associations Ben
Solomon advises is $250-$450, reports the attorney and founder of
the Association Law Group in Miami Beach, Fla., who advises more
than 500 associations and also represents developers through his
second law firm, Solomon & Furshman LLP. The highest among
Solomon's clients is $2,800 per month for an oceanfront condo in
Bal Harbor.
That's pocket change for residents of Chicago's Trump Tower. At
$12,150 per month, it has the highest assessments of all the
Chicago properties currently listed by Redfin, which recently
added a function allowing buyers to track that data during their
home search.
"Smart buyers have always looked at assessments before they buy,"
explains Andrew Schlegel, CCAM(r), executive vice president of
community management for Orange County and Los Angeles at Merit
Property Management in Aliso Viejo, Calif. "However, comparing
assessments among communities is often an apples-to-oranges
comparison. Do you know whether each property's assessments cover
Internet, basic cable, and all utilities? How much staff is there
onsite? We have some buildings that have no dedicated staff onsite
and others that have a concierge with a hotel-type experience.
That costs a lot of money. So anybody doing this analysis has to
dig into what those assessment dollars are buying."
That's exactly the concern of Debra A. Warren, vice president of
client relations at the Dallas-based Associa(r), a community
association management company with offices throughout the
United States, Canada, and Mexico. "Unless you're looking at the
communities' complete budgets side by side, there's no way you can
compare communities A and B," she explains. "Sometimes communities
are right next door, but one doesn't have individual water meters,
and the HOA pays for all water; next door owners do have individual
meters, and the association pays only for minimal landscaping--and
there's no way to know. Garbage is another area where it's very
inconsistent who pays for what. So it could be deceptive for board
members to be looking at that information and trying to make
decisions based on it."
How should you determine the right level for your HOA's
assessments? Get details in our new article:
http://www.hoaleader.com/members/809.cfm
Best regards,
Matt Humphrey
President
===============================================================
Free Group Membership Upgrade
HOAleader.com members can now get a free upgrade to group
membership.
With a group membership, the rest of your HOA or condo
board--up to 9 additional members--will get their own member
accounts.
It's a fantastic value.
Make your job easier. Help the rest of your board get up
to speed on HOA management best practices by adding them to your
HOAleader.com membership today for no cost.
Already a member? Create complimentary accounts for the
other members of your HOA board now:
http://www.hoaleader.com/members/main.cfm
Not a member yet? Sign up now with our low individual rates and
then add your fellow board members for no additional cost:
http://www.hoaleader.com/details.cfm
=================================================================
Recent articles posted at HOAleader.com:
=================================================================
Keep an Eye on These Trends for 2013
In this week's tip, we give you a taste of the trends our experts are seeing at
their associations--and that you need to be on top of for 2013.
Click here to read full article:
http://www.hoaleader.com/public/Keep-an-Eye-on-These-Trends-for-2013.cfm
================================================================
Six HOA Trends to Watch in 2013
The best board members know not only what's going on in their own HOA, but they
also have a finger on the pulse of the broader HOA world. Here, our experts
reveal six trends they're seeing at the associations they work with.
Click here to read full article:
http://www.hoaleader.com/members/Six-HOA-Trends-to-Watch-in-2013.cfm
================================================================
Before You Forget 2012, Learn Its Lessons
In this week's tip, we share the first of eight lessons that HOA insiders from
across the country learned in 2012.
Click here to read full article:
http://www.hoaleader.com/public/Before-You-Forget-2012-Learn-Its-Lessons.cfm
================================================================
Guns and Your HOA: What to Know About "Concealed Carry" Laws
Since the tragic massacre in Newtown, Conn., gun control has returned to the
fore of legislative debate in Washington and in state capitals. In recent
years, a growing number of states implemented laws that allow residents to
carry a concealed weapon in public. Does your community association have
the right to demand that owners leave their weapons outside common areas,
like a clubhouse, pool, or meeting room? Here are some answers.
Click here to read full article:
http://www.hoaleader.com/members/Guns-and-Your-HOA-What-to-Know-About-Concealed-Carry-Laws.cfm
=================================================================
Get your own copy!
Subscribe to the HOAleader.com Tip of the Week at:
http://www.hoaleader.com/public/department49.cfm
=================================================================
Please feel free to forward the *entire text* of this email to
others.
Copyright 2013, Plain-English Media, LLC
(866) 641-4548
http://www.hoaleader.com