The Uncommon Area: Recent Episodes
Action Property Management
Welcome to the second episode of our HOA Management Podcast series on Reserve Studies, part of The Uncommon Area! In this episode, our host, Matthew Holbrook, is joined by Reserve Analyst Derek Eckert and Board Member J Parsons. This conversation jumps right into the deep-end, exploring the more complex details of reserve studies and how to use them in a more advanced and effective way. If you’re a board member or manager, this episode is essential for preparing your HOA for long-term financial stability.
Key Topics DiscussedTransitioning from basic reserve studies to advanced strategies
Effective budgeting for major repairs and replacements
The role of reserve studies in safeguarding the financial health of HOAs
Common challenges and how to avoid them
Real-life examples of the impact of reserve studies
Meet our Special GuestsDerek Eckert is the Northern CA President at Association Reserves. With over 20 years of experience, Derek has extensive knowledge on Reserve Study budgets and disclosures for Common Interest Developments.
Connect with Derek on LinkedIn
Check out Association Reserves
J Parsons is the Board President at The Infinity San Francisco, a condominium high-rise in San Francisco. J has dealt with the challenges of running a Board first-hand and offers practical insight into what Board members regularly face.
Connect with J on LinkedIn
If you missed the first episode of the series, check it out here. It covers the fundamentals of reserve studies and sets the foundation for this episode.
The post Reserve Studies Pt. 2: The Build-Out | Ep. 61 appeared first on Action Property Management.
Welcome to another episode of The Uncommon Area with your host, Matthew Holbrook! In this episode, we’re diving deep into the world of reserve studies—a crucial aspect of managing homeowner associations (HOAs). Joining us is Mark Smith from Advanced Reserve Solutions, who brings extensive expertise in the field. Mark explains the importance of reserve studies and how they function as a financial plan for associations. He details how to build a reserve study, covering the essential components such as asset evaluation, cost estimation, and budgeting. Whether you’re a new board member or a seasoned manager, understanding these concepts will help you maintain and enhance your community’s financial health.
Key Topics Covered: What is a Reserve Study?: Mark breaks down the concept of a reserve study and its significance for HOA financial planning. * Components and Calculation: Learn how to itemize and assess the useful life and remaining life of assets like roofing, painting, and other community components. * Legal Requirements: Discover the legal obligations for reserve studies, including the need for physical inspections every three years and the implications of missing these updates. * Effective Reserve Studies: Insights into what makes a reserve study effective and the pitfalls to avoid. Mark shares tips on gathering accurate information and how to handle price increases and inflation. * Visual Inspections*: Gain an understanding of the process for determining the remaining life of various components through visual inspections and industry standards.
Guest HighlightMark Smith is the San Diego Regional VP of Advanced Reserve Solutions, Inc. He has over 15 years of professional reserve analysis experience and has personally prepared over 3,000 reserve analyses for communities throughout the State of California.
Connect with Mark on LinkedIn
Check out more about Advanced Reserve Solutions
The post Reserve Studies Pt. 1: The Blueprint | Ep. 60 appeared first on Action Property Management.
In this episode, Matthew Holbrook sits down with Dirk Petchul of Whitney | Petchul to unpack the intricacies of modern HOA repair projects.
Key Topics DiscussedAging Infrastructure: Understanding the increasing frequency of repair projects due to the aging infrastructure of many communities. The Balcony Bill: An overview of the legislation prompted by the tragic balcony collapse in Berkeley, mandating inspections and safety reports.
Financial Strategies: How to manage the financial aspects of major repair projects, including special assessments and loans.
Emotional and Political Realities: Navigating the social dynamics, emotions, and politics that accompany these large-scale projects.
Effective Communication: The importance of storytelling and transparent communication in achieving community buy-in and successful project outcomes.
Related EpisodesWhat Do You Need to Know about California Deck Inspection Requirements?
Stop Telling Boring Stories
The post Are HOA Repair Projects Doomed for Failure? Financial Strategies and Opportunities appeared first on Action Property Management.
Join us as we dive into the crucial topic of neighborhood safety with Phil McMullin from Orange PD. From spotting red flags of criminal activity to the power of neighborhood watch, we uncover the key elements to keeping your community safe. Matthew and Phil explore the unique advantages of living in an HOA and how it fosters a culture of vigilance and security. Tune in to learn how to safeguard your home and strengthen your neighborhood bonds!
The post Is Your Home a Criminal Target? | Ep. 58 appeared first on Action Property Management.
Join our conversation with Mike Perlof on changes in the HOA industry. Why is there more manager and client turnover than ever before? How do managers avoid burnout? How has Zoom changed the relational aspect of the business? What educational resources can support industry visibility? Mike and Matthew address these questions and more.
Mike is a fellow HOA podcaster and the Director of Client Services at Fenton Grant Law Firm. His insight includes the collective knowledge of 130+ guests he has interviewed on The HOA Pros Podcast, and you will not want to miss it!
Subscribe now to hear more conversations with Mike: Apple Podcasts Spotify
Connect with Mike on LinkedIn
The post The Industry is Changing . . . How Will You Manage? | Ep. 57 appeared first on Action Property Management.
In this episode of The Uncommon Area, we discuss the relationship between real estate and homeowners associations. Our guest, Matt Luke, shares his unique perspective as a former professional baseball player turned real estate professional. With a background beyond real estate, Matt offers a unique perspective on strategic planning that applies to baseball players and homebuyers alike. Matt tells of the importance of well-managed HOAs and offers valuable insights into what homebuyers and sellers should consider when dealing with HOAs.
Check Out More on Matt Luke: https://majorleaguesocal.com/agents/matt-luke
The post Do Homebuyers See HOAs as a Strikeout or Home Run? | Ep. 56 appeared first on Action Property Management.
Katie Quesada sheds light on the importance of storytelling in every industry, including HOA management. This conversation emphasizes the power of storytelling in HOAs and encourages board members and managers to embrace storytelling as a means of effective communication and community building.
Check Out More from Katie Quesada
The post Stop Telling Boring Stories | Ep. 55 appeared first on Action Property Management.
A discussion with hospitality expert Kevan White on how hospitality services are important to HOAs and what good service looks like.
The post When HOAs and Hotels Collide | Ep. 54 appeared first on Action Property Management.
Are your CC&Rs from the dark ages? Even if they are only 10-15 years old, they might be. Attorney Sandra Gottlieb talks about what you need to know about updating your CC&Rs to minimize problems that could arise from them being outdated.
The post Dinosaur CC&Rs | Ep. 53 appeared first on Action Property Management.
New California case law changes the restrictions for an HOA board regarding how it may communicate and discuss HOA issues by email. Attorney Jeff Beaumont discusses what boards should consider with the new legal landscape on this topic.
Resources:
Beaumont Tashjian
The information provided in this podcast is for general informational purposes only and does not constitute legal, financial, medical, or any other type of professional advice. Listeners of this podcast should not rely on the information presented as a substitute for professional advice or services. Listeners should contact their attorney to obtain advice with respect to any particular legal matter.
The post Board Communication by Email | Ep. 52 appeared first on Action Property Management.
The insurance market for HOAs is very volatile right now. Jonathan Naranjo from Newfront Insurance discusses how various kinds of HOAs should think about budgeting for these important premiums.
Resources:
Newfront Insurance
The post Getting Your Insurance Budget Right | Ep. 51 appeared first on Action Property Management.
Attorney Jeff Beaumont discusses the legal ramifications of budgeting mistakes that boards commonly make. He dives into topics such as borrowing from reserves and special assessments.
Resources:
Civil Code 5610 on Emergency Special Assessments
Beaumont Tashjian: https://www.hoaattorneys.com/
The information provided in this podcast is for general informational purposes only and does not constitute legal, financial, medical, or any other type of professional advice. Listeners of this podcast should not rely on the information presented as a substitute for professional advice or services. Listeners should contact their attorney to obtain advice with respect to any particular legal matter.
The post Common Budget Failures | Ep. 50 appeared first on Action Property Management.
Don’t let your HOA get into a position where homeowners cannot get Fannie Mae re-fi’s and mortgages. Attorney Jeff Kerrane addresses how to avoid this pitfall for your HOA.
Resources:
https://kerranestorz.com/
The information provided in this podcast is for general informational purposes only and does not constitute legal, financial, medical, or any other type of professional advice. Listeners of this podcast should not rely on the information presented as a substitute for professional advice or services. Listeners should contact their attorney to obtain advice with respect to any particular legal matter.
The post How HOAs Can Prevent Homeowners From Getting Financing | Ep. 49 appeared first on Action Property Management.
Missing something small in a contract can lead to a very big consequence. Attorney Sandra Gottlieb talks about how to avoid big mistakes in contracts.
Nathan McGuire talks about California’s changing climate and its impact on the future of homeowners associations in the next ten years.
Sarah Morales from Personal Touch Cleaning and Maintenance talks about how the right cleaning and maintenance programs keep your HOA healthy and your assets living longer.
Resources:
https://www.ptchoa.com/
Jonathan Naranjo from Newfront Insurance talks about HOAs and earthquake insurance – what you should know and why you might or might not want that coverage for your HOA.
Resources:
https://www.newfront.com/
Reasons to ditch the evening meetings.
Read Transcript[00:00:00] Maybe more HOAs should consider holding their board meetings during the day. Traditionally, most board meetings are in the evenings because of the daytime work schedules of board members and homeowners. So, often board meetings take on a different tone that can be unprofessional and inefficient. What if more board meetings were held during the day and treated as business meetings?
[00:00:22] Yes, HOAs are communities and we never want to forget that reality, but they are also corporations responsible for millions of dollars of assets. Board meetings are the time when decisions are to be made regarding those assets. And in today’s world of Zoom and working from home, more people have more flexibility with board meeting attendance.
[00:00:42] Maybe more HOAs would benefit from daytime board meetings.
Jonathan Naranjo of Newfront Insurance discusses what HOAs can do to make insurance companies more eager to provide insurance coverage for them.
A discussion with Carson Lappetito, president of Sunwest Bank, regarding what is happening in the banking world right now and the impact on HOAs.
General manager Claudia Faison discusses her experiences with a beach community and all the methods they employed to keep seagulls away. She shares the solution that has kept their roofs and buildings clean once and for all!
A discussion with Jens Hansen from Commercial Energy about why natural gas prices have suddenly skyrocketed and what HOAs can do control their costs.
Resources:
http://www.commercialenergy.net/
A discussion with Scott Vandeventer, of Empathic Inc Coaching and Consulting, about leadership that “meddles” in the lives of other people to help them be more successful and to help organizations (like HOAs) perform at higher levels.
The life of an HOA portfolio manager.
Read Transcript[00:00:00] HOA portfolio managers. Is it a great job or a brutal job? I was a portfolio manager for more than a decade. There’s often an emphasis on the negative in that job, and it’s not for everyone. It can be a very high volume of work. It can be stressful. It can average 50 or more hours per week, and it requires strengths in three areas that often don’t go together.
[00:00:29] High degrees of organization, the ability to work quickly, and really good people skills. But if you have strengths in those areas, can manage stress well, and are willing to work hard, there are a lot of rewards. No two days are the same. You get to work with a wide variety of people. You make a real difference for people where they live.
[00:00:51] There’s lots of flexibility, and you are always learning something new. It’s not for everyone, but for those who are the right fit, don’t forget about all the amazing aspects of this job.
A discussion with attorney Sandra Gottlieb, of SwedelsonGottlieb, about the pitfalls an association may face with claims regarding discrimination, harassment, and fair housing and how to avoid liability for these kinds of claims. Sometimes a person might just be a jerk. But sometimes, they might be breaking the law. And that could expose an HOA to liability. Protect your HOA from this kind of liability.
Resources:
https://www.lawforhoas.com/
HOAs that save a dollar, only to cost homeowners thousands.
Read Transcript[00:00:00] The single biggest mistake that HOAs make is to try to save pennies while costing their members thousands of dollars. Most studies show that a home in an HOA is likely to have a greater value than one not in an HOA, but that assumes that the HOA is well managed. So management can have a huge impact on home values. A 2% difference in an $800,000 home,
[00:00:24] is a difference of $16,000 or a cumulative difference of 3.2 million in a 200-unit community. But too often an association gets hung up on making its choice of management company based on a few dollars. For example, a management fee of $1,800 a month versus a fee of $2,400 a month is only a difference of $3 a month
[00:00:45] for each home. But for many HOAs, that $600 a month overall cost will be the deciding factor. It’s a consideration, but the deciding factor should be based on who is going to manage the community the best, and how that will affect living experiences and property values in the community. $3 a month shouldn’t be the deciding factor.