Managing your association’s storm water

If your association is required to manage a storm water system then you already know that this can be a complicated issue to deal with. In 1991, regulations were established to protect North Carolina’s water source and any new condo or community developments are required to have storm water permits. Even if your community was built long before 1991, you’re still required to comply with state regulations as well as any regulation on the municipal level. When new communities are being developed, builders must submit a plan detailing how they plan to handle storm water to obtain the appropriate permits. Once the project is completed, the permit often transfers to the community association. Sounds like a lot to deal with, right? See how the guidance of a professional association management company can make this process less arduous and more manageable for all parties involved.  Read More

Is Your Association Facing Capital or Large Deferred Maintenance Projects?

The majority of condominiums and communities along the NC and SC coasts were developed starting in the mid-80s. Now, nearly 30 years later, many of these associations are now facing large capital or deferred maintenance projects. Some common ones are new roofs, window/door replacement and parking lot improvements, all of which can be very costly for associations. Hopefully some funds have already been set aside if your association is handling projects of this size. However, when money isn’t readily available through reserves, there are other options – loans, special assessments or combining one or both of these options with existing reserve funds. An association could always choose to wait on taking care of these large maintenance items but that isn’t typically the best option. What should your association do if facing a large maintenance project? The assistance of professional association managers can guide you through these decisions and leave your association members feeling assured that the community its interests are being considered and properly cared for.  Read More

CAMS and Benchmark Management Group Join Forces in North Myrtle Beach

Community Association Management Specialists (CAMS) is pleased to announce that they are expanding their business by merging with Benchmark Management Group, a North Myrtle Beach, South Carolina based association management company. CAMS is excited to undertake the opportunity to bring their 25+ years of community management expertise to a new market. CAMS’ years of experience, combined with Benchmark’s 20 years, is sure to create a successful business venture that will be mutually beneficial to both the Wilmington and Myrtle Beach areas.  Read More

Termite Control In Your Community Association

One of the most critical factors in the maintenance of multifamily buildings is termite control. Who pays for these services? Where this cost falls is determined but what type of association you’re dealing with. There are two main types of termite treatments (a bond and a control warranty) and there are several variations within those categories. Which one suits your association? Are there time limits on these services? Do they cover all termite related damages? There are things your association needs to know when it comes to selecting, renewing and paying for termite treatment services. See how a professional association management company can assist you in making these crucial decisions.  Read More

What to Know About Marina Association Management

If you own a boat slip in a yacht club or similar facility, you are likely a member of a marina association. One very important factor in marina association membership is the association’s designation – is it considered a condominium association or a non-profit? The difference between the two determines which general statute under which your association falls. Do you own your slip or do you simply retain rights to it? Who owns the common areas and amenities? How is the association taxed? These are just a few of the concerns facing marina association members; get some answers and one expert’s thoughts here.  Read More

Middle Income Earners Home Act

On March 3rd, Representatives Eshoo (D-CA) and Representative Thompson (D-CA) introduced the Helping Our Middle-Income Earners (HOME) Act, H. R. 4696. This bill allows for an income tax deduction for homeowners association assessments and fees.   Read More

Tax Tips For Associations

Though most community associations are considered nonprofit corporations, they are still required to file taxes. Since community associations aren’t deemed charitable organizations, they don’t receive the same exemptions as other nonprofits like churches and schools. There are several forms that can be used when filing and the one used may vary from year to year depending on your yearend reconciliations. In addition to filing taxes, many associations also have some type of financial report for the year. There are four types of financial reports an association may use. If your association doesn’t elect for this, a professional management company will still recommend that an expert prepare your taxes. Please keep reading if you’d like to know more about how CAMS can be of assistance when tax time rolls around.  Read More

When To Call In The Professionals To Advise Your Board

Though one of the ultimate goals of association boards is to be financially sensible, there are times when it would behoove board members to hire professionals to aid in decision making and operations. Board members have certain duties and responsibilities which are outlined in the NC General Statues and it can only be beneficial to all involved to consult people with some degree of expertise in these areas. You don’t always have to hire outside professionals, many community residents or board members may have skills and knowledge that can be employed on voluntary basis. However, associations often recognize the benefits of a professional management company who can handle accounting, founding documents, day-to-day operations and much more. Professional managers may also bring a much-needed sense of neutrality to an association. Keep reading to see more reasons why professional managers may be the perfect fit for your board.   Read More

Changes to Worker's Compensation Act

The General Assembly passed a law this past Session that affects workers' compensation insurance requirements for certain non-profits. These non-profit corporations include those subject to Chapter 47A (Unit Ownership), 47C (Condominium Act), 47F (Planned Community Act), 55A (Non-profit Corporation Act) and 598 (Uniform Unincorporated Association Act) of the North Carolina General Statutes. Under workers' compensation law, the employer/employee relationship includes private employments in which three or more employees are regularly employed in the same business or establishment. More importantly, officers and directors were considered "employees" whether they were volunteers or paid officers. The LAC recognized the negative impact that this law had on our members, as well as many other non-profits, requiring common interest associations to carry and pay for insurance that was not necessary in all cases.  Read More

How to Conduct an Organizational Board Meeting

One of the most critical components of running a successful community association is holding a meeting of board members soon after each election. While some associations may have rules pertaining to how often meetings are held, it is a good idea to have a regular meeting schedule even without these rules. Many important activities are conducted during these meetings, perhaps most importantly the election of officers. While some community rules may reference how many titles and positions are allowed, many boards are free to create as many titles and positions as they’d like. Another great idea is to schedule board meetings well in advance, perhaps even for the whole year. This advanced planning allows members to clear their schedules and also ensures the presence of a quorum at each meeting. Continue reading for more ideas that will help improve the efficacy of your next board meeting.  Read More

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