Sorry. For the record, I'm disclosing that I'm biased in my opinion about self managed community associations. Unashamedly. Unapologetically. There I said it. It's hard not to take a stand when I see the potential repercussions from a homeowner or condominium association taking on the challenges, responsibilities, and yes, the liabilities, that come with overseeing a non profit corporation which is exactly... Continue Reading →
Several Beacon employees enjoyed a night of conversation and goal setting at the Atlanta Women's Network event at The Buckhead Club. Through the guidance of a life coach, we each created our own Vision Board using images and phrases that impacted us personally. You need a roadmap in order to reach your destination!
If you live in a condominium or a community with a Homeowners Association, you are aware that you will see a recurring charge to cover Condo or HOA expenses. In many ways, both fees are essentially the same and help fund the maintenance and upkeep of the community. The Association can use these fees differently... Continue Reading →
A Condominium is a type of property, usually attached, where owners own their unit and a portion of private land that sits on the facilities such as swimming pools, surrounding landscape and clubhouses. All Condo buildings have associations policies governing the condominium project, allocation of routine maintenance costs, and collect monthly, quarterly or annual... Continue Reading →
Assessments – commonly known as HOA dues - are the lifeblood of any Homeowners and Condominium Association. Each association has different policies. This is why it’s wise to ask for a list of the HOA rules and regulations. In general, these are some of the costs that can be covered by HOA or Condominium fees:... Continue Reading →
There are two components of a reserve study—a physical analysis and a financial analysis. During the physical analysis, a reserve provider evaluates information regarding the physical status and repair/replacement cost of the association’s major common area components. To do so, the provider conducts a component inventory, a condition assessment, and life and valuation estimates. A... Continue Reading →
Condominium owners should have a definite understanding of the insurance provided by their condominium and what insurance they need to purchase to protect their home. It’s always a good idea to be prepared before your purchase, so read your condominium documents ahead of time (atleast the section on insurance) and obtain a copy of the... Continue Reading →
Condo associations are still struggling to meet Federal Housing Administration certification requirements for mortgages insured by the federal agency. Here's the latest FHA condo certification news. Can Your Condos Meet FHA Rules? The FHA guarantees home loans offered through conventional lenders. FHA loans allow homebuyers to use a smaller down payment and sometimes to have... Continue Reading →