Condo Media - January 2019 - 26

Recipe

FOR

SUCCESS

● They avoid the temptation to create
the budget in reverse-starting with
the existing monthly fee and then
developing "projections" designed
to avoid an increase or keep it to
a minimum.
● They commission a reserve study,
refer to it regularly, and update it
periodically, using it as a maintenance guide as well as a financial
planning document.
● They fund the community's
replacement reserve account,
recognizing that un-funded or
under-funded reserves will eventually require special assessments,
bank loans, or both-to finance
essential repairs, renovations and
replacements.
● They have a written collections
policy and follow it strictly to
protect the association's interests.

Hello?...Apartment 201
- is anybody home?

● They don't defer essential maintenance and they don't skimp on the
budget for maintenance and repair.
● They revisit existing vendor contracts
periodically to test the market, but
they also recognize the value of longterm relationships. "They view their
vendors as business partners," Alexis
says. "They don't switch every year because they think they can save $100,"
Alexis says.
● They make sure the association is
properly insured (in all areas) and they
educate owners about the importance
of obtaining an individual owner's
HO6 policy to protect the owner's
property and cover the owner's share
of a master policy deductible.

● They follow sensible fraud
prevention measures.
● They have an independent third party
(preferably a CPA) review the association's financial records annually.
Finally, and perhaps most important:
They understand that this article
doesn't contain everything they need to
know about governing their communities. They recognize that they should
never stop learning (CAI-NE is a great
information resource) and never stop
trying to make their boards more effective and their communities stronger.
■ NENA GROSKIND IS PRESIDENT

● They develop and follow a risk management and loss prevention policy,
identifying hazardous or potentially
hazardous conditions.

OF ECONTENTPLUS, PROVIDING
EDITORIAL CONTENT FOR
WEBSITES, PRINT AND ELECTRONIC
NEWSLETTERS, AND MAGAZINES.

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26

CONDOMEDIA January 2019


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Condo Media - January 2019

Table of Contents for the Digital Edition of Condo Media - January 2019

Contents
Condo Media - January 2019 - Intro
Condo Media - January 2019 - Cover1
Condo Media - January 2019 - Cover2
Condo Media - January 2019 - Contents
Condo Media - January 2019 - 2
Condo Media - January 2019 - 3
Condo Media - January 2019 - 4
Condo Media - January 2019 - 5
Condo Media - January 2019 - 6
Condo Media - January 2019 - 7
Condo Media - January 2019 - 8
Condo Media - January 2019 - 9
Condo Media - January 2019 - 10
Condo Media - January 2019 - 11
Condo Media - January 2019 - 12
Condo Media - January 2019 - 13
Condo Media - January 2019 - 14
Condo Media - January 2019 - 15
Condo Media - January 2019 - 16
Condo Media - January 2019 - 17
Condo Media - January 2019 - 18
Condo Media - January 2019 - 19
Condo Media - January 2019 - 20
Condo Media - January 2019 - 21
Condo Media - January 2019 - 22
Condo Media - January 2019 - 23
Condo Media - January 2019 - 24
Condo Media - January 2019 - 25
Condo Media - January 2019 - 26
Condo Media - January 2019 - 27
Condo Media - January 2019 - 28
Condo Media - January 2019 - 29
Condo Media - January 2019 - 30
Condo Media - January 2019 - 31
Condo Media - January 2019 - 32
Condo Media - January 2019 - 33
Condo Media - January 2019 - 34
Condo Media - January 2019 - 35
Condo Media - January 2019 - 36
Condo Media - January 2019 - 37
Condo Media - January 2019 - 38
Condo Media - January 2019 - 39
Condo Media - January 2019 - 40
Condo Media - January 2019 - 41
Condo Media - January 2019 - 42
Condo Media - January 2019 - 43
Condo Media - January 2019 - 44
Condo Media - January 2019 - 45
Condo Media - January 2019 - 46
Condo Media - January 2019 - 47
Condo Media - January 2019 - 48
Condo Media - January 2019 - 49
Condo Media - January 2019 - 50
Condo Media - January 2019 - 51
Condo Media - January 2019 - 52
Condo Media - January 2019 - 53
Condo Media - January 2019 - 54
Condo Media - January 2019 - 55
Condo Media - January 2019 - 56
Condo Media - January 2019 - Cover3
Condo Media - January 2019 - Cover4
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202308
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202307
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202306
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202305
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202304
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202303
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202302
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202301
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202212
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202211
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202210
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202209
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202208
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202207
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202206
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202205
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202204
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202203
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202202
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202201
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202112
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202111
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202110
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202109
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202108
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202107
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202106
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202105
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202104
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202103
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202102
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202101
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202012
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202011
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202010
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202009
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202008
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202007
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202006
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202005
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202004
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202003
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202002
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_202001
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201912
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201911
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201911_v2
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201910
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201909
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201908
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201907
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201906
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201905
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201904
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201903
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201902
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201901
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201812
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201811
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201810
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201809
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201808
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201807
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201806
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201805
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201804
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201803
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201802
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201801
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201712
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201711
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201710
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201709
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201708
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201707
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201706
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201705
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201704
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201703
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201702
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201701
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201612
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201611
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201610
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201609
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201608
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201607
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201606
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201605
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201604
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201603
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201602
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201601
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201512
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201511
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201510
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201509
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201508
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201507
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201506
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201505
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201504
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201503
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201502
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201501
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201412
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201411
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201410
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201409
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201408
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201407
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201406
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201405
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201404
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201403
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201402
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201401
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201312
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201311
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201310
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201309
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201308
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201307
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201306
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201305
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201304
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201303
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201302
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201301
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201212
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201211
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201210
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201209
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201208
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201205
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https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201203
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201202
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201201
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201112
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201111
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201110
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201109
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201108
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201107
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201106
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201105
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201104
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201103
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201102
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201101
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201012
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201011
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201010
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201009
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201008
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201007
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201006
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201005
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200904
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201003
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201002
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_201001
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200912
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200911
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200910
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200909
https://www.nxtbook.com/nxtbooks/mcneill/condomedia_200908
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