Preventing the Spread of COVID-19 Within HOA Communities

On March 11, 2020, the World Health Organization declared the outbreak of COVID-19 (the medical condition caused by the novel coronavirus SARS-CoV-2), a global pandemic. HOAs and condominium associations have an essential role to play in slowing the spread of COVID-19. By applying the Center for Disease Control and Prevention (“CDC”) recommendations in the planned community setting, HOA board members, owners, residents, visitors, and employees can help prevent illness in their communities and keep their loved ones, friends, and neighbors healthy and safe.

GovernanceKailey I. Jacomet, Esq.April 7, 2020Coronavirus, Covid-19

Weathering The Storm: Coronavirus And Its Financial Impact on Homeowners

One way or another, future historians will consider the Coronavirus Pandemic among the most noteworthy events of the early 21st Century. The full economic impact on homeowners and their families cannot yet be precisely predicted, but it is likely to be immense. Taking the necessary precautions to avoid exposure to the virus and preparing for the financial ramifications will require prudence, careful planning, and maybe even a little creative thinking. Homeowners can't completely avoid the fallout from Coronavirus, but there are a few measures that could hopefully soften the blow.

AssessmentsChristopher R. Moore, Esq.March 30, 2020HOA, Coronavirus

Managing the Impact of Covid-19 (Coronavirus) in a Community Association

Healthcare providers, businesses, and educational institutions are all preparing for and dealing with the severe consequences resulting from the spread of the virus and the COVID-19 illness it causes. Associations are not immune to the effects of the Coronavirus. Like other organizations, community associations need to be prepared and take proactive measures to mitigate the impact of the ongoing pandemic. Wisely crafted and carefully implemented counter-measures at the local level, including by HOAs, can go a long way toward fighting the virus and “flattening the curve” by slowing its spread.

GovernanceChristopher R. Moore, Esq.March 19, 2020Covid-19, Coronavirus

Reserve Funds For Homeowners' Associations

What happens when an essential common element is unforeseeably damaged—resulting in significant repair or replacement costs—and there’s no money in the budget or insurance to cover the loss? Rather than get caught scrambling for cash when an unexpected contingency or major maintenance need arises, many communities maintain “reserve funds,” a sort of back-up savings slated for emergencies, long-term upkeep costs, and irregular expenditures. Although reserve accounts are often not mandatory, an ample reserve can play a big role in protecting a community’s long-term financial health.

AssessmentsChristopher R. Moore, Esq.February 4, 2020Reserve Funds, Coronavirus

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