Issue link: https://hub.associaonline.com/i/923246
March: Complete a reserve study. One of the most responsible actions you can take on behalf of your community is to ensure that large capital projects – such as resurfacing the pool or replacing the clubhouse roof – are funded before they need to be completed. This prevents deferred maintenance that ultimately leads to further damage to community assets and higher costs to homeowners in the form of special assessments. Having this long-term plan in place will ensure that your community is well-maintained not only for today, but for tomorrow's generation as well. Get a professional reserve study done to plan for your long-term capital replacement reserves. If you have had one done in the past but it is more than three years old, have it updated. This is a valuable tool that will help you live up to your fiduciary duty: to properly maintain and enhance the community and the value of the homes within it. You do this in part by properly reserving for the roofs, siding, roads, and amenities as they accumulate wear and tear over the years. This way, when the roof needs to be replaced, the money is available and the only decision to make is about which contractor to hire. This holds true for any and all common elements. As a bonus, savvy buyers will know that a reserve study makes your community more desirable because it's unlikely to be hit by a special assessment in the future for deferred maintenance. — Jesse Dubuque, CMCA® Director of Client Development Associa Minnesota April: Implement a proactive maintenance plan. Without a comprehensive plan for community maintenance, it's easy to fall into the trap of reactive maintenance – which is where board members only perform maintenance tasks when a repair is needed instead of possibly avoiding the problem with preventive measures. By taking a proactive approach, your board and community reap a host of benefits. I recommend that boards look into taking a proactive approach rather than a reactive approach with community maintenance. Being proactive results in cost savings, improved safety, increased efficiency, and protection of common assets – benefits that all go a long way toward supporting property values and making your community a pleasant place to call home. — Rob Hastings, PCAM®, CMCA®, AMS® Regional Field Services Director, East Coast Associa OnCall