Barker Martin

Condo-HOA Blog - July, 2017

Unlike Riding a Bike

Recently, I bought new mountain bike, after not owning a bike for years. When the bike arrived, I unpacked it, put it together, bolted on the wheels and handlebars, hopped on and just rode off. People often say you never forget how to ride a bike to mean that, once learned, certain skills never go away. Sadly, that same phrase does not apply to many aspects of managing associations. While a manager's skills endure and improve, the facts and issues for each project, and even within the same project, can differ significantly. It's a bit like the difference between knowing how to ride a bike in general and knowing how to operate a specialized piece of equipment like a track bike or downhill mountain bike, yet that analogy even falls a bit short. read more

Association Committees

Committees can be a productive tool for condominium and homeowners associations. Committees, such as budget committees or architectural control committees, can promote increased participation by owners, benefit from unique owner expertise, and help reduce the workload imposed on volunteer board members. However, to properly benefit from the use of committees, it is essential that they are created and operated properly. read more

Is a Loan Right for Your Community?

At a time when many condominiums are old enough to require major repairs or renovations, community associations can be overwhelmed by the cost. The word is definitely out that a community association loan may be a viable option for many communities. In contrast to a lump sum special assessment, the ability to pay a loan back over a period of years has the potential to lessen the financial impact on owners. Of course, there are costs associated with any loan, including origination fees, interest, attorney's fees, etc., but these tend to be relatively small in relation to the loan size, and often are only charged if the loan closes and can be paid with loan proceeds. read more

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