Marlene Olivastro
Board Member Best Practices
As a volunteer Board Member, you have made a selfless decision to volunteer your valuable time for the betterment of your community. You’re an inspiration to many, including our management team at PMP and one of the main reasons we love what we do! Because we understand your time is valuable and you take your role as a Board Member
To Lien or Not to Lien
Aggressive Pursuit of Delinquent Assessments is Critical for the Fiscal Health of Your Association Associations are non-profit corporations that rely on zero-sum budgets for operational and reserve expenses. In other words, an Association’s annual budget does not account for an income margin like “for-profit” corporations. As such, it is imperative that projected assessment revenue is received in a timely manner
Neighbor-to-Neighbor Disputes: Doing Nothing May No Longer be an Option
HUD Rule Changes How HOA’s Address Neighbor Disputes Historically, Associations have avoided interjecting in neighbor-to-neighbor disputes. Heavy walking, loud parties, surround sound systems, and slamming doors were just a few of the commonly voiced resident complaints, and up until now, the response from most Association Boards was that the residents must settle these matters amongst themselves. Effective October, 2016, The
Budget Season is Never Really Over
Budgets and financial statements should be reviewed regularly, and adjusted if necessary. If your Association’s fiscal year-end aligns with the calendar year, your approved budget along with the legally required disclosures has already been mailed out to the membership. While it may no longer officially be budget season, roughly defined as the last quarter of your Association’s fiscal year, is
Associations Must Embrace Clean Energy
From electric vehicle charging stations to solar panels, alternative energy is impacting our communities. Americans, and Californians specifically, have been embracing clean energy for years. California boasts about 50% of the nation’s solar generating capacity, and recently became the first state to require solar panels on all new homes, effective beginning 2020. Electric vehicle sales now represent 6.2% of new
Who Runs the Show?
Board Members should embrace their respective Board positions. Overview Board Members are the elected Directors and Officers of the corporation, responsible for Association governance, overseeing the Association’s operations, and enforcing the Association’s governing documents. Too often, the perception is that these fiduciary duties have been delegated to management, which is not healthy for the Association, its members, or management. Board
Budget Season is Here! No, Really… Budget season begins much earlier than you may anticipate.
Budget season is here! The reality is, if your fiscal year end coincides with the calendar year, you should begin the budget preparation process by early August. If your fiscal year falls at another time throughout the year, I suggest allowing a full 5 months before your Association Budget Report is due to be received by the membership to begin
Bridging the Generation Gap
Tools for Effective Multigenerational Communication Communication is becoming ever more complicated and obscure as technology evolves. E-mails have replaced telephone conversations and text messages are slowly replacing e-mails. The generational gap regarding how we communicate is compounding our communication woes. Millennials are communicating via smart phone applications such as Snap Chat (which I still do not fully understand) and Kik,
2017-2018 LEGAL UPDATE
Every year new legislation and precedent-setting case laws impact the way Association’s are governed. At PMP we’re committed to ensuring our Board Member clients have the knowledge and tools necessary to effectively meet their fiduciary obligations and properly serve their Association. Below is a brief overview of some of the new legislation impacting Associations in 2018. For a more in-depth
Budgets, Reserve Studies, and the Board’s Obligation to Maintain Common Areas
The preparation of the Association’s annual budget and updated reserve study are critical tasks to ensure the proper funding of operational expenses, proactive repairs, and replacement of aging common area elements. One of an Association Board’s primary responsibilities is to properly maintain the Association’s common areas, including community amenities, and an adequately funded budget is essential to meet this obligation.
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