HOAleader.com - Tip of the Week - October 7, 2016
Published: Fri, 10/07/16
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It’s Not Just Homeowners at Risk for Cybertheft; Your HOA Is, Too
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In this week’s tip, we give you fair warning that you should prepare for the worst when it comes to cybertheft.
The biggest risk for associations is likely to be an inadvertent breach of cybersecurity, contends Stephen Marcus, a partner at Marcus, Errico, Emmer, Brooks in Braintree, which represents about 4,000 associations, mostly condos, in Massachusetts, New Hampshire, and Rhode Island.
Maybe one of your board members has HOA bank account information or passcodes on her computer or smartphone, and that device is hacked or stolen. Or perhaps a cyberthief hacks into the HOA’s computer system, pilfering homeowners’ confidential information or the HOA’s banking information.
“I haven’t seen this proposed threat ever realized in the community association context,” says Matthew A. Drewes, a partner at Thomsen & Nybeck PA in Bloomington, Minn., who heads the law firm’s community association representation group. “It’s probably a bit more remote that board members would be targeted because they were on an association board. That information is harder to get than information and technology at large company that collects data as part of its business.
“For that reason, some of the high-profile examples aren’t good ones of what community associations are likely to face,” adds Drewes. “But losing a laptop and not having adequate security measures in place certainly could happen. If you haven’t spent any time thinking about it and haven’t done anything to address the issue, you do become a target for a lawsuit during the fallout.”
That’s Marcus’s concern, too. “I’ve been representing associations since 1979, so in my 37 or so years of doing that, the most dangerous and misunderstood area of condo and HOA operations is insurance,” he notes. “A few insurance agents understand it when it comes to associations. Very few attorneys understand it. It would lead to lawsuits if there were a case brought as a result of a cybersecurity breach because I think owners would try to sue the board arguing they didn’t protect the association’s funds.”
And, in a nutshell, your standard HOA insurance probably wouldn’t cover you in that instance. Find out why, and get information to help you begin protecting your HOA, in our new article: http://www.hoaleader.com/members/2440.cfm
Best regards,
Matt Humphrey
President
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Upcoming Event:
How to Protect Yourself and Your HOA from the Neighborhood Sociopath
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Recent articles posted at HOAleader.com:
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How to Protect Your HOA from Cybertheft
Just what you need--to have your HOA fall victim to cybertheft. Maybe it's your owners' confidential information that's stolen. Worse, it could be their bank account information or the HOA's. Either way, this is a situation you definitely don't want to be forced to learn about after it happens to you.
Click here to read full article:
http://www.hoaleader.com/members/How-Protect-Your-HOA-from-Cybertheft.cfm
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How to Protect Yourself and Your HOA from the Neighborhood Sociopath
Run into any owners or residents who show contempt for and consistently disregard your HOA's rules? One in 25 people is a sociopath, or a person who regularly exhibits asocial or antisocial behavior. Sociopaths look like your everyday neighbors, but they can be scary and intimidating--and they can turn your HOA into a battleground. Join us for a cutting-edge webinar on October 27 on how to wisely and safely handle the most difficult owners and residents you'll ever face, led by two community association experts with decades of hands-on experience in advising associations.
Click here to read full article:
http://www.hoaleader.com/products/protect-hoa-from-neighborhood-sociopath-a.cfm
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How to Avoid Flare-Ups Over Grills at Your HOA
In this week's tip, we offer some sizzling advice to prevent fires and frustrations when it comes to grilling at your homeowner or condo association. This is an area that David Firmin, a partner at Hindman Sanchez, a law firm in Arvada, Colo., with about 1,600 association clients, knows firsthand. He represents a three-plex association that had several fires exacerbated by propane tanks stored on the property. The total damage reached $1.5 million.
Click here to read full article:
http://www.hoaleader.com/public/How-Avoid-FlareUps-Over-Grills-at-Your-HOA.cfm
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Rules for Your HOA's and Your Owners' Barbeque Equipment
If you've got a grill or several on common areas that owners can use, our experts suggest you post some rules to ensure safety. And if your owners have private balconies--some are brick, and some are wood--you have a right to regulate those, too. Here's information to get you started.
Click here to read full article:
http://www.hoaleader.com/members/Rules-for-Your-HOAs-Your-Owners-Barbeque-Equipment.cfm
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When You Can't Pass a Special Assessment at Your HOA
An HOAleader.com reader writes, "Does anyone know of any Texas law or court precedent that would allow a POA to impose a special assessment when there's no mention of special assessments in the CC&Rs? Some board members believe that we can do it simply because other POAs do it, but I cannot find any legal authority to impose any special assessment under any circumstance.
Click here to read full article:
http://www.hoaleader.com/members/When-You-Cant-Pass-Special-Assessment-at-Your-HOA.cfm
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