Last year we wrote about the consequences of under-funding a reserve account. Well, there’s another, maybe even more compelling reason to keep a well-funded Reserve account, and that’s the value of individual properties within a community. A recent study indicates that home values were 12.6% higher in associations with a strong (over 70% Funded) Reserve… Read more »
Blog
Posts By: jkilroy
Security, Safety and Property Surveillance
Smartphones, companies like Nest and Ring and many others offer internet-enabled video recording devices that today are affordable to most homeowners. The technology makes it easier for us to keep ourselves and our property safe and secure. In many of the communities we manage, homeowners are increasingly installing surveillance equipment that is as good as professional technology. If you’re… Read more »
2017 Resolutions – Transparency, Truth and Trust
Happy New Year! As we mark new beginnings, it’s a great time to commit to things that matter most. It’s up to the manager to ensure the community is running as outlined in its governing documents, and then, up to the board to lead the community with sound decisions on its behalf. And yet, there… Read more »
Hosting Successful Community Association Meetings
For years, I’ve heard complaints from colleagues about “never-ending” or dysfunctional board meetings, where everything gets discussed, but nothing gets decided. As I prepare for an upcoming annual meeting, I thought it might be useful to review here what makes a successful board meeting, annual meeting, and the difference between the two. Thanks to the… Read more »
The Unintended Consequences of Altering Common Property
Many years ago, while living in a new town home community in Old Bridge, two of my neighbors with homes on the edge of the community decided to improve the nearby common ground with shrubs and trees. While their actions came from a good place, helping to beautify the property, it was a violation of… Read more »
Summer Safety Tips
Can you believe it’s already July! As I sit outside on this cool Saturday afternoon, it’s hard to believe half the year has gone already. Backyards are filled with blooming gardens, and we’re enjoying the outdoor life for which New Jersey is notorious. Sterling manages a lot of New Jersey properties, and we are blessed… Read more »
The True Cost of a Low Reserve Account Balance
When a community is new, a study is produced that outlines a budget to fund a reserve account in preparation for future expenses related to the inevitable deterioration of major components of the common property. The study can include things like entrance signs, light poles, siding, roofs and sidewalks. New community boards sometimes don’t see a need to build a reserve fund when everything is new,… Read more »
The Benefits and Burdens of Association Board Leadership
There are several reasons for a person to run for a community board position, and one is because he or she wants to improve their community through service. While it may seem like a simple job, being an active member of an association’s board can be a bit more complicated, especially if the community has issues that require… Read more »
The Importance of a Well-Maintained Property
The third of the five key attributes to a happily managed community is thorough and regular site maintenance. As spring gets into full bloom, maintenance crews and landscapers are out in full force repairing damage from the last several months. I once lived in an apartment building where the owner took preventive maintenance to an extreme – painting, improving and… Read more »
What’s the Big Deal if I Don’t Pay My Maintenance on Time?
I attended a homeowners meeting earlier this week, and the subject of delinquencies came up. Of course, this community had its fair share, but the overall sentiment was that the delinquencies weren’t necessarily because owners couldn’t afford to pay. This community has a low annual assessment (maintenance fees), as it’s a simple homeowners association with not much… Read more »
