News and updates on financial considerations for condominiums, HOAs, and cooperatives
brought to you by Pacific Premier Bank.
Air conditioning is greatly appreciated now that summer is in full force around the country. Condominiums and HOAs can benefit tremendously from a proper maintenance program of their Heating, Ventilation, and Air Conditioning (HVAC) systems. It doesn't just keep the cold air flowing when it is needed most. It keeps costs down and extends the useful life of one of the most expensive elements that the association owns.
There is no small amount of controversy regarding the use of video surveillance systems within the walls of homeowners associations. In a world connected by cell phone video, wearable cameras like Google Glass, and inexpensive camera surveillance systems, it was only a matter of time before community association governing bodies had to consider the advantages and drawbacks of using video surveillance within the common areas of their associations.
Are kids and condos the new "Odd Couple"? If Felix Unger and Oscar Madison could put their differences aside and live together, surely there is a way that children and adults can cohabitate in condominiums. New innovations and creative solutions are making it possible in condos and HOAs all across the nation.
When unit owners are particularly happy with the conditions within their HOA, they tend to become a bit apathetic. Is that such a bad thing? If they are simply content to live in their homes and pay their share of the common expenses in the form of common fees or dues, should you be concerned that they do not come out in droves when the Annual Meeting is held? If the same directors run for reelection and do not face any opposition, is there a problem?